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Broader Market Bull Run Lifts Up New-Age Tech Stocks This Week, RateGain Nears $1 Bn M-Cap

Inc42 · 1y ago

Broader Market Bull Run Lifts Up New-Age Tech Stocks This Week, RateGain Nears $1 Bn M-Cap

The broader market bull run has positively impacted new-age tech stocks this week, with 13 out of 19 stocks under Inc42's coverage showing gains ranging from 1% to 15%. Tracxn Technologies emerged as the top gainer with a 14.8% increase in shares. On the flip side, Paytm continued to decline, falling by over 7% this week. Delhivery also saw a decline of over 7%. Benchmark indices Sensex and Nifty50 both experienced gains of 2.4% and 2.3% respectively. SoftBank also offloaded a significant portion of its stake in PB Fintech, and shares of Paytm and Delhivery reached their lowest levels in months.

Related News

New-Age Tech Stocks See Another Mixed Week, RateGain Biggest Loser

Inc42 · 2m ago

New-Age Tech Stocks See Another Mixed Week, RateGain Biggest Loser

In the past week, 33 new-age tech stocks showed mixed results, with 15 rising by up to 10% and 18 dropping by up to 12%. The total market cap slightly declined to $85.88 billion. Despite expectations of revenue growth and a positive economic outlook, lackluster Q4 results from companies like Tracxn, Awfis, and RateGain did not resonate well with investors, with RateGain emerging as the biggest loser.

New-Age Tech Stocks Rally; TAC Infosec Emerges As The Top Gainer For Second Straight Week

Inc42 · 1y ago

New-Age Tech Stocks Rally; TAC Infosec Emerges As The Top Gainer For Second Straight Week

Indian new-age tech stocks experienced a surge this week, driven by a rally in the broader market. TAC Infosec emerged as the biggest gainer, with its stock jumping 55%. Other top gainers included Zaggle, Mamaearth, RateGain, and EaseMyTrip. Some stocks, such as DroneAcharya and Zomato, saw marginal declines. The Sensex and Nifty50 indices gained 0.88% and 1.23% respectively, but ended the week with a slight correction. The fluctuating market was influenced by global factors and ongoing Middle East tensions. The total market capitalization of new-age tech stocks increased to $49.17 billion from $47.67 billion in the previous week.

Another Mixed Week For New-Age Tech Stocks — Paytm Spirals Downward, RateGain Top Gainer

Inc42 · 1y ago

Another Mixed Week For New-Age Tech Stocks — Paytm Spirals Downward, RateGain Top Gainer

It was a mixed week for new-age tech stocks in India, with 11 out of 19 stocks declining. Paytm once again was the biggest loser, with its market cap down 56% in a month. On a positive note, RateGain emerged as the biggest gainer, rallying sharply after announcing a partnership with HotelKey. Overall, the Indian market showed signs of recovery, with the Sensex and Nifty50 both approaching their all-time highs. Experts anticipate a pre-election rally in the market.

New-Age Tech Stocks’ Winning Streak Ends; Yudiz Biggest Loser This Week

Inc42 · 1y ago

New-Age Tech Stocks’ Winning Streak Ends; Yudiz Biggest Loser This Week

Indian new-age tech stocks experienced a mixed performance this week, with some stocks declining while others registered gains. Among the losers were Yudiz, PB Fintech, Nazara Technologies, Delhivery, Paytm, and RateGain. On the other hand, DroneAcharya emerged as the biggest gainer, followed by Nykaa, Zomato, ideaForge, and EaseMyTrip. The broader market saw a positive trend, with benchmark index Nifty 50 gaining 1.88% and Sensex rallying 1.86%. Paytm shares fell 2.3%, while Zomato continued its rally, touching another 52-week high. DroneAcharya gained 14.5% after launching the BHUJANG drone.

Paytm Emerges As The Biggest Gainer In Another Mixed Week For New-Age Tech Stocks

Inc42 · 1y ago

Paytm Emerges As The Biggest Gainer In Another Mixed Week For New-Age Tech Stocks

The Indian new-age tech stocks experienced mixed performance this week. Paytm emerged as the top gainer, with its shares surging 19.4% after a series of losses due to regulatory actions. On the other hand, RateGain recorded the biggest decline, with shares falling 7.7%. Overall, the combined market capitalization of these stocks reached almost $45 billion by the end of the week. The broader market showed a positive trend, with Sensex rallying 0.99% and Nifty50 jumping 0.8%. However, concerns remain over rising crude oil prices, surging US bond yields, and stretched valuations.

New-Age tech stocks rally as Q3 earnings season starts on a positive note; EaseMyTrip biggest winner

Inc42 · 1y ago

New-Age tech stocks rally as Q3 earnings season starts on a positive note; EaseMyTrip biggest winner

Indian new-age tech stocks witnessed a bull run this week, with 14 out of the 19 stocks rising between 0.8% and 20%. EaseMyTrip emerged as the biggest winner, surging 19.8% on the BSE. Other gainers included Yatra and Nazara Technologies. Meanwhile, DroneAcharya, IndiaMART, and ideaForge experienced declines. The benchmark indices Sensex and Nifty also gained 0.75% and 0.85%, respectively, reaching new all-time highs. The positive market sentiment was supported by better-than-expected Q3 FY24 results from IT companies and a rally in IT stocks.

India’s Startup IPO Spring, Startup Funding Revives & More

Inc42 · 2m ago

India’s Startup IPO Spring, Startup Funding Revives & More

India's startup scene persists despite earlier lacklustre IPOs, as companies like Wakefit and Pine Labs move to list on exchanges. The broader market sees a bull run, benefiting new-age tech stocks, with FirstCry achieving significant gains. Amidst these developments, Dream11 shifts its focus towards casual gaming. Further, in legal news, the Singapore International Arbitration Centre awarded INR 24 crore in damages to Amazon over its ongoing dispute with the Future Group.

New-Age Tech Stocks Surge In The First Week Of FY25, Tracxn The Biggest Gainer

Inc42 · 1y ago

New-Age Tech Stocks Surge In The First Week Of FY25, Tracxn The Biggest Gainer

In the first week of FY25, Indian new-age tech stocks performed well with 16 out of 19 stocks seeing gains. DroneAcharya, PB Fintech, CarTrade Technologies, EaseMyTrip, Zomato, and Paytm were among the biggest gainers. However, Nazara Technologies, RateGain, and IndiaMART experienced declines. The broader market, represented by Nifty50 and Sensex, also saw gains. Volatility was attributed to factors such as US bond yields, crude oil prices, and geopolitical tensions. Market focus is expected to shift to Q4 earnings season next week. Zomato's shares reached an all-time high, while PB Fintech closed at a 28-month high. IndiaMART emerged as the biggest loser.

New-Age Tech Stocks’ M-Cap Surges $5 Bn, FirstCry & Eternal Gain Big

Inc42 · 2m ago

New-Age Tech Stocks’ M-Cap Surges $5 Bn, FirstCry & Eternal Gain Big

The Indian equity market experienced a strong rally, contributing to a $5 billion increase in the market capitalization of 33 new-age tech stocks under Inc42’s coverage. This brought their cumulative market value to $91.07 billion. The surge was partly due to the Reserve Bank of India's repo rate cut by 50 basis points. FirstCry's shares gained significantly, rising 18.73% this week despite recent losses, with its market cap reaching $2.5 billion.

New-Age Tech Stocks Witness A Volatile Week; TAC Infosec Top Gainer

Inc42 · 1y ago

New-Age Tech Stocks Witness A Volatile Week; TAC Infosec Top Gainer

Indian new-age tech stocks witnessed mixed performance this week as the broader market remained volatile amid global political tension and foreign institutional investors continued to sell domestic shares. Eight out of the 20 new-age tech stocks covered by Inc42 increased in value, with TAC Infosec being the biggest gainer for the third consecutive week, while DroneAcharya was the biggest loser. The Sensex and Nifty50 indices gained 0.2% and 0.25% respectively. Market experts expect the market to consolidate in a broader range with geopolitical headlines likely to influence trading.

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