CarTrade Tech slides 5% as talks to absorb CarDekho, BikeDekho collapse

Shares of CarTrade Tech slid as much as 5.1% on Thursday to Rs 3,010 on the BSE after the company and Girnar Software mutually decided not to proceed with the proposed acquisition of CarDekho and BikeDekho, puncturing hopes of a landmark consolidation in India’s automotive classifieds space.

CarTrade was in talks with Girnar Software for a potential consolidation opportunity in the automotive classifieds business of CarDekho and BikeDekho, a deal that market participants saw as a transformative step toward building an end-to-end digital auto ecosystem.

In its exchange filing, CarTrade said it would continue to prioritise growth within its current portfolio, which includes CarWale, BikeWale, OLX India and Shriram Automall.


"We believe that our current businesses have strong fundamentals, operate in large and expanding Total Addressable Market (TAM), and provide significant headroom for growth. The company will continue to pursue its strategic roadmap, drive products and technology innovation, and enhance value across its diversified ecosystem," CarTrade wrote in its statement.

A merger that might have reshaped auto-tech

The proposed transaction would have combined CarTrade’s leadership in dealer auctions, vehicle financing and B2B remarketing with CarDekho’s scale in consumer listings, insurance and digital retail. Industry observers had said the integration could redefine India’s auto-tech ecosystem, enabling an end-to-end digital experience spanning vehicle discovery, financing, insurance and resale.

CarTrade’s underlying operating performance has remained strong. The company’s profit more than doubled year-on-year in the most recent quarter, while revenue grew by 29% over the same period.

CarTrade Tech stock technical picture

From a technical perspective, the stock is trading above five of its eight key simple moving averages, including the 30-day, 50-day, 100-day, 150-day and 200-day SMAs. However, it remains below the 5-day, 10-day and 20-day SMAs.

The Relative Strength Index stands at 62.3, suggesting the stock is neither in oversold nor overbought territory. Meanwhile, the Moving Average Convergence Divergence is at 119.2 and remains above the centre line but below the signal line, reflecting a cautious undertone in short-term momentum even as longer-term trends remain broadly intact.

The stock is up 99% so far in 2025 and has risen 134% over the last one year.

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