EaseMyTrip led gains among new-age tech stocks this week, with its shares rising 23.7% to close at ₹8.35, according to inc42.com. Out of 57 new-age tech stocks tracked, 31 recorded gains ranging from 0.05% to nearly 24%, while 25 stocks declined between 0.30% and 15%. The overall market capitalization of these companies stood at $129.58 billion at the end of the week, down from $131.94 billion the previous week.
The stock-specific movement was driven by various factors, including profit booking and fresh highs touched by companies such as Kissht, Ather Energy, Honasa Consumer, Shadowfax, ideaForge, SEDEMAC, and MobAvenue. Despite these highs, only SEDEMAC, Yudiz, and Shadowfax ended the week in positive territory among them. NSE SME-listed Yudiz was the biggest loser, with shares falling 14.81% to ₹22.15. Profit booking also pressured shares of BlueStone, ideaForge, and Aequs, pushing them into the red.
This week also saw key developments such as Zepto moving closer to its stock market debut by filing an updated draft red herring prospectus with SEBI for an IPO comprising an ₹8,050 crore fresh issue and an offer for sale of up to 11.35 crore shares, mainly led by early investor Nexus Venture Partners. Additionally, Ather Energy’s board approved a proposal to raise up to ₹2 billion, following Ola Electric’s recent qualified institutional placement closure.
The market capitalization of the 57 new-age tech companies was $129.58 billion at the week’s close, reflecting ongoing volatility in the sector. The next major event will be Zepto’s IPO, which could significantly impact the new-age tech stock landscape once it proceeds.