Buy CarTrade Tech, target price Rs 840: JM Financial

JM Financial has buy call on CarTrade Tech with a target price of Rs 840. The current market price of CarTrade Tech Ltd. is Rs 634.7. Time period given by analyst is one year when CarTrade Tech Ltd. price can reach defined target.

CarTrade Tech Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 2960.73 Crore) operating in Services sector.

CarTrade Tech Ltd. key Products/Revenue Segments include Income From Advertisement, Other Services and Used Cars for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 92.77 Crore, down -12.38 % from last quarter Total Income of Rs 105.88 Crore and up 47.16 % from last year same quarter Total Income of Rs 63.04 Crore. Company reported net profit after tax of Rs 3.32 Crore in latest quarter.


Investment Rationale
The brokerage has a ‘BUY’ rating on the stock with a Jun’23 TP of INR 840 and believe that any dip due to an open market sale by any of the pre-IPO investors should be viewed as an accumulation opportunity

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 19.55 per cent, DIIs 5.44 per cent.