India's CarTrade Tech falls nearly 9% in market debut

CarTrade Tech

20/08/2021 08:00

** Shares of CarTrade Tech Ltd  CART.NS  down as much as
8.8% at 1,475 rupees in market debut 
    ** Co begins trading at 1,599.80 rupees, lower than issue
price of 1,618 rupees 
    ** CarTrade is a platform that allows customers to buy and
sell used or new vehicles
    ** Bearish sentiments in the market led to tepid listing of
CarTrade Tech - Saurabh Joshi, equity research analyst at
Marwari Shares and Finance Ltd
    ** Co has profitable and scalable business model and is well
positioned to benefit from growth of the automotive sector and
digitalization - Joshi 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))