India's CarTrade gains as Elara Capital starts with 'buy', sets Street-high PT

CarTrade Tech

24/09/2025 06:49

** India's CarTrade Tech CART.NS CART.BO gains 3.8% to 2,497 rupees

** Elara Securities starts coverage on online vehicle classifieds and auction portal with "buy", PT of 3,590 rupees

** Brokerage's PT highest among 7 analysts tracking the stock; avg rating is "hold", according to data compiled by LSEG

** CART looks well set to grow without increasing its customer acquisition costs, says brokerage

** Through OLX India acquisition, CART has deepened its presence in auto classifields space, Elara says; expects gross merchandise value for OLX India to grow at a CAGR of 11.9% till FY28

** Including today's gains, CART is up 68% YTD

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))