CarTrade Tech jumps on entering into partnership with Chola
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CarTrade Tech is currently trading at Rs. 616.85, up by 22.30 points or 3.75% from its previous closing of Rs. 594.55 on the BSE.
The scrip opened at Rs. 595.00 and has touched a high and low of Rs. 620.50 and Rs. 595.00 respectively. So far 3390 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1610.00 on 20-Aug-2021 and a 52 week low of Rs. 462.10 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 620.50 and Rs. 549.70 respectively. The current market cap of the company is Rs. 2774.20 crore.
The Institutions and Non-Institutions held 23.75% and 76.25% stake respectively in the company.
CarTrade Tech has entered into a partnership with Cholamandalam Investment and Finance Company (Chola) to offer financing for used cars. Chola, the financial services arm of the Murugappa Group, will be the preferred financier for customers purchasing used vehicles from CarTrade Tech’s CarWale abSure’s dealers.
Chola will customise its products and offerings to suit the needs of these customers. This collaboration between Chola and CarWale abSure is expected to make mobility accessible to the middle-class Indian.
CarTrade Tech is a multi-channel auto platform provider company. The company operates various brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz.
