CarTrade Tech hits new low since listing; down 11% from issue price

An increase in aggression by competition fueled by large amounts of global appetite to participate in this industry in India could impact the positioning of CarTrade Tech and its profitability

Shares of CarTrade Tech were trading lower for the third straight day, down 2.4 per cent at Rs 1,441.60 on the BSE in intra-day trade on Thursday, in an otherwise firm market. The stock was quoting at its lowest level since its listing on Friday, August 20, 2021. With the past three days' 8.7 per cent fall, the market price of CarTrade Tech has declined 11 per cent from its issue price of Rs 1,618 per share.

CarTrade Tech, a company that operates online platforms for buying and selling of vehicles, had made a weak debut on the bourses