New-Age Tech Stocks Advance In Holiday-Curtailed Week, Ola Electric Top Gainer
New-age tech stocks regained some momentum in a holiday-shortened week. Thirty one out of the 55 new-age tech companies under…
New-age tech stocks experienced a resurgence in momentum during a holiday-shortened week, with 31 out of 55 companies under Inc42's coverage recording gains ranging from 0.26% to as high as 17%. The week's trading was heavily influenced by broader market movements, as stock momentum initially faltered on Monday, March 30, before recovering on Wednesday, April 1, and Thursday, April 2.
On the opening day of the week, 11 new-age tech stocksāWakefit, MobiKwik, FirstCry, Awfis, DroneAcharya, DevX, EaseMyTrip, Unicommerce, IndiQube, Tracxn, and Zappfreshātouched fresh lows. However, by the end of the week, most of these companies had managed to turn their fortunes around and ended in the green. The top three gainers for the week were Ola Electric (up 16.81%), Zaggle (up 16.69%), and Veefin Solutions (up 16.05%), all of which had experienced significant declines in 2026. Other companies that performed well included Zappfresh, Urban Company, Zelio, RateGain, MapmyIndia, Swiggy, and Nykaa.
Despite the overall positive trend, 24 new-age tech stocks still faced declines, ranging from 0.04% to over 12%. BlueStone emerged as the biggest loser, sliding 12.33% to close at ā¹428.35. In the list of losers, Ather Energy's shares reached an all-time high of ā¹804.4 before slipping 4.29% over the next two sessions to end the week at ā¹762.25. Other larger companies such as Eternal, Go Digit, Lenskart, and PB Fintech also ended the week in the red.
The cumulative market capitalization of the 55 new-age tech companies rose to $119.04 billion at the end of the week, up from $116.31 billion at the end of the previous week.
Several key developments occurred at new-age tech companies during the week. The NCLT approved the merger of Veefin's acquired businesses, Estorifi and GlobeTF Solutions, within its listed entity. This merger is expected to strengthen Veefin's position in the financial technology sector.
MapmyIndia made a significant investment by allocating ā¹2 crore for a 20% stake in Prashant Surveys, a 3D geospatial solution provider. This move is seen as a strategic step for MapmyIndia to enhance its geospatial capabilities and expand its services.
In a notable development for Yatra, the CESTAT Chandigarh ruled in its favor in a long-running indirect tax dispute, setting aside tax demands raised by the authorities. This decision provides relief to Yatra and is expected to have a positive impact on its operations and investor sentiment.
Overall, the week demonstrated the resilience of new-age tech stocks, with many companies bouncing back from initial setbacks to end the week on a positive note. The sector's cumulative market capitalization continued to grow, highlighting investor confidence and the potential for future growth in this dynamic industry.
