CarTrade Tech's Multiplatform Ecosystem Captures Fast-Growing Used-Car Market — Market Talk
CarTrade Tech's multiplatform auto ecosystem likely captures a fast-growing used-car market in India, Elara Securities (India)'s analysts say in a research report. Its consumer portals--CarWale and BikeWale--anchor discovery, driving qualified leads that are monetized via methods including dealer memberships, advertising and value-added services, the analysts note. With its acquisition of OLX India, the company has deepened its leadership in auto classifieds by adding India's largest consumer-to-consumer audience and listings density to drive lead generation and strengthen pricing power. The brokerage initiates coverage of the stock with a buy rating and a target price of INR3,590.00. Shares are 0.8% lower at INR2,470.30. (ronnie.harui@wsj.com)