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CarTrade Tech shares rise over 14% on plans to buy OLX India's auto business
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₹537 crore. CarTrade Tech shares opened at ₹521.95 apiece on BSE. In an exchange filing on Monday, the firm said that it had signed a share purchase agreement with Sobek Auto India Private Limited and its parent company OLX India BV for the purchase of a 100% shareholding in Sobek from OLX India BV.
“After a long underperformance, the stock has recently witnessed buying interest as good volumes have been seen along with price upmoves. The short term momentum seems positive with immediate support placed around ₹480," said Ruchit Jain, Lead Research Analyst at 5paisa. (more to come) Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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