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| 54yBulk deals: Sector Investment Funds PLC picks up stake in Cartrade Tech
Cartrade Tech reported strong financial results for the January-March quarter, with a 50% YoY increase in net profit to Rs 22.5 crore. Revenue also surged by 51% to Rs 145.27 crore, driven by the growth of OLX's classifieds business. Foreign investors Macritchie Investments Pte and Highdell Investment currently hold the largest stakes at 16.31% and 17.36% respectively. Sector Investment Funds PLC- Sector Global Emerging Markets Fund recently acquired a 0.51% stake in Cartrade Tech. On April 30, JP Morgan Private Equity Fund, CMDB II, sold a 0.79% stake in the company. Cartrade Tech's stock price on the NSE increased by 4.96% to Rs 849.95.
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