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Shares of Raymond Lifestyle came under pressure on Friday, September 26, sliding 4.2% to a low of Rs 1,200.55 on the BSE after the company disclosed that officials from the Income Tax Department had conducted a survey action at some of its offices and manufacturing units in India.In a regulatory filing, the company stated, “We hereby inform that yesterday certain officials of the Income Tax Department visited some of the Company’s offices and manufacturing units in India for conducting a survey action under Section 133A of the Income Tax Act, 1961. The proceedings are underway and the Company is extending its full co-operation to the officials.”The announcement weighed on investor sentiment, triggering a sell-off in the stock. Market participants said that tax survey actions often create uncertainty around potential financial or compliance implications, prompting near-term caution from traders and investors.Raymond Lifestyle share price performanceOver the past year, the shares of Raymond Lifestyle have witnessed a steep decline, falling 49.62%, signalling a challenging period for investors. On a year-to-date basis, the stock remains deep in the red, down 41.59%, underscoring continued selling pressure through 2025.However, the picture improves slightly in the shorter term — over the last six months, the stock has managed to gain 16.85%, hinting at a partial recovery from its earlier lows. The last three months and one month have both seen a 4.61% rise, suggesting that recent momentum has been slightly positive despite the overall longer-term weakness.Around 2:40 pm, the stock was still trading 3.65% lower at Rs 1,207.60 on the BSE.Also read: Nazara Technologies stock price down 75%? Here’s what’s really happening(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of CarTrade Tech jumped nearly 8% to Rs 2,648.25 on Friday, riding a year-long rally that has seen the stock rally 146%. Investor enthusiasm was fueled by Elara Capital initiating coverage with a 'buy' rating and a Rs 3,590 target, signaling roughly 36% upside, alongside last week’s purchase of 3.9 lakh shares by Norway’s sovereign wealth fund in a Rs 98 crore deal.Elara Capital described CarTrade as a “multi-platform auto and classifieds marketplace, offering discovery, remarketing and value-added services.” Its consumer portals, CarWale and BikeWale, “anchor discovery, driving qualified leads,” monetised through pro-seller and dealer memberships, advertising, and services including finance, insurance, and logistics.The brokerage highlighted the OLX India acquisition, noting it “deepened its leadership in auto classifieds, adding India’s largest C2C audience and listings density, to drive lead generation and strengthen pricing power.” The deal also “opened up scaled non-auto categories (electronics, real estate), broadening monetisation without a step-up in customer acquisition cost (CAC).”Elara forecasts CarTrade’s revenue, EBITDA, and PAT to grow at CAGRs of 25%, 37%, and 25% respectively through FY28E, reaching Rs 12.6bn, Rs 3.8bn, and Rs 2.8bn. The brokerage expects OLX India’s gross merchandise value to rise nearly 12% annually, driven by market-share gains in used cars and overall goods, while EBITDA margins are projected to expand to 30.6% from 23.5% in FY25.“CARTRADE is a net cash company, reflecting category leadership, low-CAC economics, and a clear monetisation runway,” the brokerage said.Strong market momentumTechnically, CarTrade is trading above six of its eight key simple moving averages (SMA), including the 10-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, while remaining below its 5-day and 20-day SMAs. The Relative Strength Index (RSI) stands at 52.8, signaling neither overbought nor oversold conditions, while the MACD is at 35.8, above its center line but below the signal line.Last week, Norway’s sovereign wealth fund bought 3.9 lakh shares in a deal worth Rs 98 crore. CarTrade, listed in August 2021, has a market capitalization of Rs 11,895 crore on the NSE.Cash-rich, debt-free and expansion-readyElara highlighted CarTrade’s strong balance sheet, with Rs 7.5 billion in net cash. The brokerage expects the company to generate Rs 2.1 billion in cumulative free cashflow through FY25-28, funding investments in technology, EV adjacencies, and expansion while preserving capital efficiency.Scale optionality from classifieds is another key factor. According to Elara, the OLX India acquisition “adds horizontal optionality in real estate and electronics alongside autos,” allowing monetisation to scale via paid visibility, pro-seller subscriptions, and verified sellers, “without step-ups in capex or CAC.”The brokerage identified key risks as slower monetisation at OLX, integration challenges, and cyclicality in auction volumes.Also read | Ola Electric vs Ather Energy shares: Which EV bet looks stronger for your portfolio right now?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)