CITI ON CARTRADE TECH ; BUY | TP ₹2,910 (EARLIER ₹3,300)

• Citi maintains Buy rating on CarTrade Tech but cuts target price to ₹2,910 from ₹3,300. • Q2 Performance: Revenue UP 10% YoY, missing estimates due to slowdown in consumer business. • OLX Business: Revenue UP 26% YoY, supported by monetisation initiatives. • Consumer Business: Citi cuts valuations for the consumer business amid slower growth. • Growth Outlook: Strong OLX growth momentum supports a positive outlook. • Impact: Mixed 🟡

CARTRADE TECH LIMITED

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