UBS says CarTrade Tech’s OLX buy can deliver 5x revenue in five years. Here’s why
Cartrade Tech set out an expansion for FY31.
· ET Stocks, Economic Times Markets
Global brokerage firm UBS maintained a Buy rating on CarTrade Tech with a target price of Rs 4,000, citing strong monetisation potential in its OLX India business. UBS expects OLX’s emerging revenue levers, such as financing, subscriptions, and logistics to drive a 5x revenue expansion to Rs 11.8 billion by FY31.
Key facts
- Period
- FY31
The analysis
Cartrade Tech reported Rs 4,000, and Rs 11.8 billion for FY31. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.3% on the day at ₹3,142.30, and has returned +8.6% over three months. It sits 4% below its 52-week high. The consumer & retail sector has moved -3.7% over the same period, so Cartrade Tech is running 12.3 points ahead of its peers.
For Cartrade Tech, the question is how much of this is already reflected in the price and how much re-rates the consumer & retail peer set alongside it.
Market context
- The company directly in focus is CARTRADE.
- Sector exposure: Consumer & Retail.
- The immediate tone of coverage reads positive.
In this story
Related coverage
Indian bonds slip on higher oil, hawkish RBI governor comments
5 years, no returns: Are these 9 Nifty bluechip stocks finally ready for a turnaround?
Stock Market LIVE: Sensex rises 300 pts, Nifty near 22,600; Dmart shares decline 3%
Dollar languishes as focus turns to CPI, Fed speakers
BT BIG STORY: India Inc is more confident about Q3, but unwilling to hire or invest