New-age tech stocks surged this week, with 39 out of 57 companies under Inc42’s coverage posting gains ranging from 0.03% to nearly 20%. WeWork India and ixigo led the rally, hitting fresh 52-week highs over the past five trading sessions. The cumulative market capitalization of 58 new-age tech companies reached $139.29 billion, reflecting improving investor sentiment, according to inc42.com.
The rally was broad-based across various segments, with 11 companies including Ather Energy, Kissht, RateGain, Honasa Consumer, Delhivery, Aye Finance, Amagi, Aequs, Nykaa, and Shadowfax also reaching new 52-week highs. Meanwhile, 18 stocks declined, with SME-listed Yudiz falling 8.72% to ₹25.65. Swiggy, after hitting a low of ₹235.85 on June 30, rebounded to close the week 3.1% higher at ₹248.15. Insurtech firm Turtlemint debuted with a 10% discount on June 29 but ended the week up 1.73% at ₹138.55.
This uptick in new-age tech stocks comes amid positive brokerage commentaries and renewed investor confidence in the sector. The gains across diverse companies highlight a broad recovery in tech-driven businesses, with market leaders like WeWork India and ixigo setting the pace. The inclusion of Turtlemint in the coverage and its steady debut also signals growing interest in insurtech within the new-age tech landscape.
The cumulative market capitalization of these 58 new-age tech companies stood at $139.29 billion as of this week, underscoring the scale of the sector’s rebound, inc42.com reported.