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E Commerce

CarTrade Shares Slump 4% In Early Trade


SUMMARY

Despite the broader market slump in recent months dragging down most new-age stocks, CarTrade has delivered a stellar performance

The stock has delivered a positive return of 4.40% in last one month at its current market price

Looking at a broader timeframe, the stock has jumped 61.19% in the last six months and surged 114.78% over the past year

Shares of online classifieds and auto auction platform CarTrade slumped as much as 4% to INR 1476.65 apiece during early trading sessions on the BSE today (February 21).

The…



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SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

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