CarTrade Tech shares surge 12% in two days after launching new used-car platform

CarTrade Tech shares surged 12 percent in two days following the launch of CarTrade Used Auto, a unified used-car platform combining CarWale and OLX India. The platform targets around 2 million annual used-car transactions, translating into a potential transaction value of about Rs 1.2 lakh crore per year, while addressing a used-car market opportunity of Rs 3 lakh crore currently and Rs 5 to 6 lakh crore by 2030. The stock has risen about 37 percent over the past month and 410 percent over three years, though its 14-day RSI of 71.9 places it in overbought territory.