Shares of extended gains for the second straight session in Wednesday's trade, rising 4.36 per cent to hit a high of Rs 2,511. The stock, however, remains 8.82 per cent below its record peak of Rs 2,754 touched earlier this month on September 9.

Elara Capital has initiated coverage on the counter with a 'Buy' rating, projecting an upside potential of 42.97 per cent from the day's high of Rs 2,511. Advertisement

According to the domestic brokerage, "CarTrade is well set to compound scale without stepping up customer acquisition cost (CAC). We expect MUV CAGR of 8.6 per cent and sold auction unit CAGR of 15.4 per cent in FY25-28E, deepening discovery and throughput. For OLX India, we forecast gross merchandise value (GMV) CAGR of 11.9 per cent, led by market-share gains of +330bps in used

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