MacRitchie Investments Pte Ltd completed a significant stake sale in CarTrade Tech on Friday, November 6, selling 18.20 lakh shares representing a 3.74% stake for ₹470.11 crore through a bulk deal. According to reports from The Economic Times, the shares were sold at an average price of ₹2,583 apiece. The transaction involved multiple institutional buyers, with Smallcap World Fund Inc and Norges Bank among the acquiring parties.
Smallcap World Fund purchased 14.30 lakh shares for ₹369.25 crore, acquiring a 2.94% stake in the company. Norges Bank, acting on behalf of the Government Pension Fund Global, acquired 2.94 lakh shares for ₹75.85 crore, representing a 0.60% stake. As reported by The Economic Times, following Friday's sale, MacRitchie Investments' holding would decrease to approximately 14.95 lakh shares or 3.08%, down from its previous 6.82% stake of 33,14,570 shares as of September 30, 2026.
CarTrade Tech shares demonstrated strong market performance on Friday, settling at ₹2,699.30 on the BSE, gaining 3.72% from their previous close of ₹2,602.45. According to The Economic Times, during the trading session, the stock moved in a range of ₹2,569.60 to ₹2,712.90. The stock has shown continued strength, with current trading at ₹2,700 and maintaining a market capitalization of ₹13,082.95 crore. Despite Friday's gains, the stock has declined 4.55% so far in 2026, with the company maintaining a market capitalization of ₹13,123 crore on the BSE.
CarTrade Tech reported strong financial performance for Q2FY27, with net profit increasing 3.1% to ₹66 crore compared to ₹64 crore in the corresponding quarter of the previous financial year. As reported by The Economic Times, revenue from operations grew 10.2% year-on-year to ₹213.09 crore in the September quarter, compared with ₹193.41 crore in Q2FY26. Total expenses rose 6% year-on-year to ₹150.77 crore during the quarter, against ₹142.21 crore in the year-ago period.
