CarTrade Tech shares fall 6.5% after Q2 results
In short
CarTrade Tech shares fell 6.5% after its Q2FY27 results. Net profit rose 3% year-on-year to Rs 66 crore, and revenue increased 10% to Rs 213 crore. Nomura also raised its target price to Rs 3,377 from Rs 3,340.
The stock still dropped because investors may have focused on the outlook. The report says Nomura sees growth in OLX India and better consumer business prospects, but the reason for the selloff is not fully stated.
What the reporting says
CarTrade Tech shares fell 6.5% after Q2FY27 results showed net profit rose 3% year-on-year to Rs 66 crore and revenue increased 10% to Rs 213 crore. Nomura raised its target price to Rs 3,377 from Rs 3,340, citing OLX India growth potential, better consumer business prospects and operating leverage, even as it cut revenue estimates by around 3%. The immediate question is whether the stock drop will persist despite the higher target.
Why it matters
CarTrade Tech shares fell 6.5% after the company reported Q2FY27 results with net profit of Rs 66 crore, up 3% year-on-year, and revenue of Rs 213 crore, up 10%. At the same time, Nomura lifted its target price to Rs 3,377 from Rs 3,340, citing OLX India and operating leverage while trimming revenue estimates by about 3%. The story leaves the market’s exact reason for the decline unspecified.