India's Cartrade Tech drops on report of shareholders' stake sale

CarTrade Tech

24/06/2024 05:09

** Shares of Cartrade Tech Ltd  CART.NS  fall as much as
3.5% to 828.15 rupees
    ** Warburg Pincus entity Highdell Investment and Temasek's
MacRitchie Investments to sell at least 10.4% stake in online
used car retailer via block deal on Monday - CNBC-TV18 report
    ** Adds, share sale at 820 rupees per shr, 8.4% discount to
previous closing price; Highdell to sell 7%, MacRitchie selling
3.4%
    ** Around 2.4 mln shares traded vs 30-day avg of 15,371
shares
    ** All 6 analysts tracking stock rate it "buy" or "strong
buy" - LSEG data
    ** Stock trims YTD gains to 16.3%


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))