Tech
CarTrade Shares Tumble Over 18% After JM Financial Downgrades Rating To ‘Sell’
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SUMMARY
The stock pared some of the losses later in the day and was trading 8.5% lower at INR 2,498.70 on the BSE at 12:10
JM Financial has a target price of INR 2,350 for CarTrade for September 2026, reflecting a 14% downside from its last close
The brokerage cited a mix of valuation concerns, reliance on cyclical B2B revenues, and growing competitive pressures from GenAI tools as the reasons for the downgrade
Shares of listed car reselling platform CarTrade
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