New-Age Tech Stocks: Aequs, Nykaa Lead Weekly Gains; Ola Electric, Ather Slip

by · Inc42

SUMMARY

  • While 43 of the 57 new-age tech stocks gained in the range of 0.08% to over 21%, 14 stocks fell in a range of 0.21% to close to 8%
  • Seven new-age tech stocks — WeWork India, Shadowfax, Kissht, Aye Finance, Nykaa and Amagi — also touched fresh highs this week
  • The market capitalisation of the 57 new-age tech companies rose to $134.52 Bn at the end of the week from $129.58 Bn a week ago
  • Added to Saved Stories in Login

New-age tech stocks gained in line with the bull run in the broader market this week. Forty three out of the 57 new-age tech companies under Inc42’s coverage ended the week in the green. While gainers soared in the range of 0.08% to over 21%, 14 stocks fell in a range of 0.21% to close to 8%.

Aequs emerged as the biggest gainer this week, with its shares surging 21.42% to end at ₹221.9. Investor sentiment turned positive after the company, in its investor day presentation on Thursday (June 18) projected a 4-6X revenue growth by FY31 and an EBITDA margin of 18-22%. The loss-making company also said it expects to reach consolidated PAT breakeven by H1 FY28. Following this, the stock touched a fresh all-time high of ₹225 during the intraday trading yesterday. 

Besides, six new-age tech stocks — WeWork India, Shadowfax, Kissht, Aye Finance, Nykaa and Amagi — also touched fresh highs this week.