Indian new-age tech shares experienced a choppy week, with mixed performances amid broader market weakness, volatility around derivatives expiry, and recent corporate moves, as investor sentiment remained subdued despite growing public offerings.
Indian new-age tech shares ended another choppy week with a split picture, as weakness across the broader market and volatility around monthly derivatives expiry kept investors cautious. Of the 62 companies tracked by Inc42, 36 finished lower and 26 rose, while the group’s combined market capitalisation was almost flat at $166.91bn, compared with $166.84bn a week earlier. Inc42 said sentiment remained subdued even as the pipeline of public offerings kept growing.
Shiprocket was the biggest loser over the week, slipping 9.27% to ₹125.40 and falling below its BSE listing price after an initially strong debut. The ecommerce enablement firm had listed at ₹129.50 on August 19 against an issue price of ₹97, touched an intraday high of ₹156.90 earlier in the week, and then gave back much of those gains as profit-taking set in. Historical price data from Investing.com shows the stock’s sharpest drop came on August 28, when it closed at ₹125.40 after hitting an intraday low of ₹124.
At the other end of the table, SME-listed Klassroom led the gainers with a rise of 25.2% to ₹218. Ather Energy also stood out, climbing 10.38% for the week and touching a record high of ₹1,629.15 before closing at ₹1,612. The rally followed Hero MotoCorp’s purchase of an additional 1.18 crore shares, or about a 3% stake, for ₹1,758 crore, alongside Ather’s own fresh fundraise and its push to expand manufacturing, research and product development. The company also unveiled its mass-market Konarc scooter at a starting price of ₹99,999.
The week also brought a string of corporate and market developments. Inc42 reported that Alpha Wave Ventures exited Aye Finance, Qualcomm Ventures trimmed its holding in Shadowfax, Ribbit Capital reduced its stake in Groww and Y Combinator sold shares in Meesho. Elsewhere, Urban Company filed a defamation suit against Kent RO Systems, Capillary Technologies disclosed a transaction linked to Peak XV Partners’ exit from a promoter entity, Honasa Consumer abandoned its planned ₹135 crore purchase of a controlling stake in Fluence Pharma, and Ola Electric secured a ₹95.81 crore production-linked incentive sanction for FY27. On the macro side, the Nifty 50 fell 0.31% and the Sensex lost 0.35%, even as some analysts pointed to softer crude prices, a firmer rupee and lower US yields as partial support for domestic equities.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
