CarTrade Tech, Concord Biotech, Apar Industries shares rise up to 8% today; here's why 

Shares of CarTrade Tech Ltd, Concord Biotech and Apar Industries rose up to 8% on Wednesday despite correction in the broader market. CarTrade Tech shares rose 8% to Rs 1931 in early deals against the previous close of Rs 1795.20. Market cap of the firm stood at Rs 9207 crore. The rally in the CarTrade stock comes after brokerage firm Kotak Institutional Equities upgraded its rating and raised its price target by 27.7%.

The brokerage changed its rating to "buy" from the earlier "sell". It also raised its price target to Rs 2,300 per share from the previous Rs 1,800 apiece. According to Kotak, Cartrade's deep dealer database and value-added offerings may cap the effect of AI models to an extent.

The brokerage attributed its upgrade on account of a sharply higher valuation for OLX as it envisages steady gross merchandise value (GMV) growth, improving monetisation and margins.

Concord Biotech 

Concord Biotech stock too gained 8.36% to Rs 1264.45 after the pharma firm said the company has received approval from the US Food and Drug Administration (USFDA) for its ANDA for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL. 

Mycophenolate mofetil is an antimetabolite immunosuppressant indicated for the prophylaxis of organ rejection in adult and pediatric recipients 3 months of age and older of allogeneic kidney, heart or liver transplants, in combination with other immunosuppressants. Concord Biotech's  market cap rose to Rs 12,989 crore. 

Apar Industries 

Apar Industries shares hit a fresh 52 week high of Rs 1264.45, rising 6.21% against the previous close of Rs 13256.60. Market cap of the firm stood at Rs 54,005 crore. 

Last week, Apar Industries announced its consolidated financial results for the fourth quarter of FY26. Net profit came at Rs 253 crore against a 1.2% rise compared to the Rs 250 crore reported in the same period last year. The company reported a 26.74% year-on-year (YoY) rise in consolidated revenue from operations to Rs 6,602.81 crore. 

Meanwhile, Sensex plunged 700 pts to 73,949 and Nifty lost 185 points to 23,299 in early deals today.