CarTrade Tech shares slide 5% on ending talks to acquire CarDekho parent

CarTrade Tech shares fell 5 per cent after it clarified that its proposed acquisition of CarDekho did not materialise

Shares of CarTrade Tech Ltd. fell over 5 per cent on Thursday after it clarified that its proposed acquisition of CarDekho and BikeDekho did not materialise and both sides agreed to call off the talks.

 

The company's stock price fell as much as 5.4 per cent during the day to ₹3.004.3 per share, the biggest intraday fall since October 29 this year. CarTrade Tech stock pared gains to trade 4 per cent lower at ₹3,046 apiece, compared to a 0.20 per cent decline in Nifty 50 as of 1:26 PM. 

 

Shares of the company snapped a three-day winning streak and currently trade at 4.5 times the average 30-day trading volume, according to Bloomberg. The counter has risen 105 per cent this year, compared to an 11 per cent advance in the benchmark Nifty 50. CarTrade Tech has a total market capitalisation of ₹5,109.16 crore.   CATCH STOCk MARKET UPDATES TODAY LIVE

CarTrade Tech calls off proposed acquisition

CarTrade Tech on Thursday said it has ended preliminary discussions with Girnar Software Pvt. Ltd. over a potential consolidation of their automotive classifieds businesses, CarDekho and BikeDekho. The companies have "mutually decided not to proceed with the proposed transaction at this stage," CarTrade Tech informed the stock exchanges.

 

The company said it remains focused on strengthening its existing platforms, CarWale, BikeWale, OLX India and Shriram Automall, and reiterated that these businesses operate in large and expanding total addressable markets with significant growth potential. 

 

CarTrade Tech added that it will continue to execute its strategic roadmap, invest in product and technology innovation, and build value across its diversified ecosystem.

 

CarTrade Tech is India's largest digital marketplace ecosystem, operating multiple platforms including CarWale, BikeWale, CarTrade, OLX India, Shriram Automall, CarTrade Exchange, and Adroit Auto. These platforms empower millions of users, including consumers, dealers, OEMs, and enterprises, to buy and sell vehicles, real estate, electronics, mobile phones, furniture, and more with ease and efficiency.  ALSO READ | Nifty Auto at new high; here's why Tata Motors, Ashok Leyland rose 5% today

CarTrade Tech Q2 results 

In Q2FY26, CarTrade Tech reported its highest-ever quarterly revenue of ₹222.14 crore, representing a 29 per cent year-on-year (YoY) growth, and PAT of ₹64.08 crore, up 109 per cent YoY. The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) rose 94 per cent YoY at ₹63.60 crore in Q2FY26.

 

The company said OLX India maintained momentum with a 17 per cent YoY growth in revenue and 213 per cent YoY growth in profits, driven by operating leverage and integration of synergies. The festive period and GST reduction have further strengthened consumer sentiment.