India's CarTrade Tech jumps as brokerages see new growth avenues

By Reuters News

** Shares of India's CarTrade Tech CART.BO rise as much as 3.6% to 3,122.20 rupees

** Co's OLX India partnered with Landmark Cars LANM.NS to combine its online used-car marketplace with Landmark's 140-plus retail and service spots across 12 states; vehicles will be bought and sold under a revenue-sharing model

** UBS ("buy",PT:4,000 rupees) says Landmark partnership, scaling of OLX's Elite Buyer programme and new AI-led products should drive next leg of growth for CART

** Nomura ("buy",PT:3,340 rupees) expects CART's EBITDA to grow about 30% annually over FY26-FY29, helped by new revenue streams at OLX and an asset-light business model

** Citi ("buy",PT:3,300 rupees) says Landmark partnership, expansion of its business-buyer programme and AI-based data products could open new revenue opportunities for CART

** YTD, CART up 5.81% while LANM gained 3.4%

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