CarTrade's stock fell after a downgrade, yet remains up strongly despite valuation concerns and AI risk.

• Broker cited 43x FY27 EBITDA, heavy B2B reliance, and cyclical spending exposure in the market.
• GST cuts boost affordability, driving a 25% traffic surge on CarWale and BikeWale platforms for consumers.
• Management expects festive season momentum, higher dealer participation, and continued growth across new and used segments.