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
crashed over 18%…
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