Except for Swiggy (down 0.18%), Go Digit (down 0.36%) and Menhood parent Macobs Technologies (down 2.32%), shares of 52 new-age tech companies rose in a range of 0.63% to over 44% this week.
Groww, Shadowfax, Ather Energy, Honasa Consumer and Lenskart touched fresh highs this week
New-age tech stocks gained close to $10 Bn in cumulative market capitalisation to end the week at $129.09 Bn
The Indian equities market rallied this week following the announcement of a temporary ceasefire between US-Israel and Iran. As a result, new-age tech stocks saw heavy buying interest during the week.
Except for Swiggy (down 0.18%), Go Digit (down 0.36%) and Menhood parent Macobs Technologies (down 2.32%), shares of 52 new-age tech companies rose in a range of 0.63% to over 44% this week.
Ola Electric emerged the biggest gainer this week, with its shares surging 44.27% to end this week at ₹40.9. Besides, Groww, Shadowfax, Ather Energy, Honasa Consumer and Lenskart touched fresh highs this week.
Shares of bigger companies like Nykaa, Delhivery, Meesho, Eternal, among others, also ended the week in the green.
From this week, we are including adtech company Mobavenue AI Tech to our coverage. Shares of the Mumbai-based firm, which provides businesses an AI-powered advertising and consumer growth platform, gained 1.66% to end the week at ₹1,210.8.
Overall, new-age tech stocks gained close to $10 Bn in cumulative market capitalisation to end the week at $129.09 Bn.
Now, let’s take a look at some of the key developments at new-age tech companies this week:
- Swiggy cofounder Nandan Reddy resigned to pursue other professional interests. The company also appointed cofounder Phani Kishan Addepalli and group CFO Rahul Bothra as executive, non-independent, additional directors.
- Delhivery’s early investor Nexus Venture Partners offloaded 1.2 Cr shares via multiple block deals for ₹530.4 Cr. The shares were lapped up by Alphamine, BNP Paribas, Edelweiss Mutual Fund, ICICI Prudential Life Insurance, among others.
- Paytm incorporated a subsidiary, PT PAYTM INDONESIA TEKNOLOGI, in Indonesia and invested ₹8.15 Cr in the new wholly owned step-down subsidiary.
- Aye Finance reported a 27% YoY rise in AUM to ₹7,044 Cr in FY26, alongside improvement in asset quality. Its GNPA eased to 4.77% in Q4.
- Tarun Mathur resigned from the position of CEO and principal officer of PolicyBazaar Insurance Brokers, the insurance broking arm of PB Fintech, effective immediately. He will be succeeded by Sajja Praveen Chowdary.
- BPC major Nykaa expects to report net revenue growth at the upper end of mid-twenties in Q4 FY26. Besides, the company is said to be in discussions to acquire a majority stake in Deepika Padukone’s 82°E.
With that, let’s take a look at the broader market trends this week.
Uneasy West Asia Ceasefire Lifts Market Sentiment
The announcement of a 15-day ceasefire in West Asia improved investor confidence this week. Following the announcement, crude oil prices slipped below the $100 mark, easing inflation concerns and triggering a strong rebound across global markets.
However, the unpredictability of the situation capped the pace of gains as the week progressed, said Ajit Mishra, SVP of research at Religare Broking.
Sensex and Nifty 50 gained close to 6% each during the week, closing at 77,550.25 and 24,050.6, respectively.
During the week, the RBI’s Monetary Policy Committee maintained the repo rate at 5.25%, reiterating a neutral stance. The central bank also revised FY26 GDP growth to 7.6% while projecting FY27 growth at 6.9%. Further, inflation projections were raised to 4.6% for FY27, reflecting risks from elevated energy prices and potential weather-related disruptions.
The central bank said elevated prices of energy and other commodities, coupled with supply shock due to disruptions in the Strait of Hormuz, will act as a drag on domestic production in 2026-27.
“The status quo provides much-needed stability to the financial system. A steady rate environment, supported by adequate liquidity, should continue to support credit growth across retail and MSME segments, while also strengthening asset-liability management for lenders. Overall, the policy strikes a prudent balance between growth support and inflation vigilance, reinforcing confidence in India’s macroeconomic resilience amid persistent external headwinds,” said South Indian Bank CFO Vinod Francis.
Now, let’s take a look at the performance of the week’s top gainers – Ola Electric and Honasa Consumer.
Ola Electric Continues To Rally
After gaining close to 17% last week, EV company Ola Electric’s shares jumped over 44% this week. The stock, which fell as low as ₹21.21 in March, is now showing signs of steady recovery after a prolonged period of decline.
The rally was triggered last week by Ola Electric’s improved performance in the E2W market in March. The company’s daily orders in the last week of March exceeded 1,000 units, it claimed. Overall, registrations spiked 150% MoM to 10,117 units.
While the company’s “strong comeback in business performance” triggered an uptick in investor appetite for its shares last week, further announcements this week helped sustain the rally.
Primarily, investor interest was buoyed by the company’s updates on its Gigafactory.
It announced that its LFP cell (Lithium-Iron-Phosphate) cell is ready for deployment.
The integration of its 46100 LFP cell, bigger than its current NMC cell, will begin from the next quarter, the Bhavish Aggarwal-led company said.
“The readiness of our LFP 46100 cell is a pivotal moment in our journey to build India’s most advanced EV and energy ecosystem. Along with the strong progress at our Gigafactory and proven performance of our 4680 cells on the road, this milestone reflects our deep commitment to innovation, scale, and self-reliance,” a company spokesperson said.
Honasa Jumps On Strong Quarterly Update
Honasa’s shares gained 13.05% to end the week at ₹344.75. The stock touched a fresh 52-week high of ₹348.75 on April 9 (Thursday).
The major trigger for the rise in share price this week was the company’s quarterly business update.
The Mamaearth parent expects to clock growth in the early twenties in Q4 FY26.
Honasa attributed the growth in Q4 to the strong performance of Mamaearth. It said the brand is expected to deliver growth in teens, while its younger brands like The Derma Co., Aqualogica, BBlunt, Dr. Sheth’s, Staze and Lumineve are expected to deliver growth in mid-twenties.
“Our offline channel remained a key growth driver, with general trade and modern trade expected to continue strong growth momentum, supported by improving distribution coverage,” the company said.
Edited by Vinaykumar Rai
Creatives by Varshita Srivastava
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