Shares of Cartrade Tech Ltd gained 1.98% on Monday, October 13, to Rs 2,486.80, after a significant block deal took place last week involving Goldman Sachs India and Plutus Wealth Management LLP.
According to exchange data, Plutus Wealth Management, led by Arpit Khandelwal, acquired 3.75 lakh shares (about 0.78% stake) in Cartrade Tech at Rs 2,445.04 per share, aggregating to a deal value of Rs 91.68 crore. Meanwhile, Goldman Sachs India sold 3.61 lakh shares (roughly 0.76% stake) at Rs 2,445 per share, worth Rs 88.41 crore.
The transaction comes as part of a broader investment move by Plutus Wealth, which also picked up 11.46 lakh shares (0.85% stake) in WeWork India Management at Rs 630.17 per share for Rs 72.27 crore.
Cartrade Tech shares have been consolidating for the past month but saw renewed buying interest after the stake purchase. On Friday, the stock had ended slightly lower at Rs 2,444.80, before rebounding in today’s session.
Cartrade Tech, a multi-channel automotive platform, continues to see strong investor participation, especially after recent institutional buying in the open market.
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