India's CarTrade Tech up after unit sells C2B ops to cut costs

CarTrade Tech

25/10/2023 07:26

** Shares of CarTrade Tech  CART.NS  rise 3.13% to 635.45
rupees; stock set to snap 5 sessions of losses, if gains hold
    ** Rise in multi-channel auto platform after its unit Sobek
Auto India announces decision to shut down C2B
(consumer-to-business) operations of auto transaction business
    ** Move to reduce Sobek's total expenses, says CART
    ** Adds Sobek to shift focus to core classified business
    ** CART shares up 36% in 2023 so far including today's gains
- LSEG data


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))