CarTrade Tech shares rose 14.02% to Rs 855 against the previous close of Rs 749.85 on BSE. Market cap of the firm climbed to Rs 3792 crore.
CarTrade Tech shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Shares of CarTrade Tech zoomed 14% in the afternoon session today after the e-retail firm logged a 50% rise in net profit for the quarter ended March 2024. Profit climbed to Rs 22.5 crore in the last quarter against Rs 15 Crore profit on a YoY basis. Revenue rose 51.4% to Rs 145.3 crore in Q4 against Rs 96 Cr revenue on a YoY basis.
Subsequently, CarTrade Tech shares rose 14.02% to Rs 855 against the previous close of Rs 749.85 on BSE. Market cap of the firm climbed to Rs 3792 crore.
Earlier, the stock opened higher at Rs 754.85 on BSE. Total 1 lakh shares of the firm changed hands amounting to a turnover of Rs 8.04 crore on BSE.
CarTrade Tech shares have a beta of 0.4, indicating very low volatility in a year. The stock has gained 84% in a year and risen 11.21% in 2024.
In terms of technicals, the relative strength index (RSI) of the CarTrade Tech stock stands at 49.8, signaling it’s trading neither in the overbought nor in the oversold zone. CarTrade Tech shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
EBITDA climbed to Rs 27.4 Cr in Q4 against Rs 11.6 Cr on a YoY basis. EBITDA margins climbed to 18.9% in Q4 against 12.1% on a YoY basis.
Cartrade Tech operates an automotive digital ecosystem which connects automobile customers, OEMs, dealers, banks, insurance companies and other stakeholders. The Company owns and operates under several brands: CarTrade, CarWale, and AutoBiz.
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