New-Age Tech Stocks Gain This Week Led By Ather & Zetwerk, CarTrade Sinks 22%

by · Inc42

SUMMARY

  • Forty of the 69 new-age tech stocks ended the week higher, led by Ather Energy’s 26.8% rise, followed by Zetwerk and Tonbo Imaging.
  • Quarterly earnings drove divergent stock reactions, with Ather rallying after its maiden profit and CarTrade falling 22.3% following weaker-than-expected growth in its core consumer business.
  • The combined market cap of 69 new-age tech companies rose $8.62 Bn to $160.94 Bn, even as 29 stocks declined and 15 touched fresh lows during the week.
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New-age tech stocks largely advanced this week, with quarterly earnings driving sharp moves in individual counters. Of the 69 stocks under Inc42’s coverage, 40 gained between 0.2% and 26.8%, while the remaining 29 declined by up to 22.3%.

Ather Energy led the gainers after reporting its maiden quarterly net profit. The stock rose 26.8% to close at ₹1,755.05, having touched a fresh all-time high of ₹1,782.05 during the week.