New-Age Tech Stocks Surge On Broader Market Bull Run, FirstCry Biggest Gainer This Week

Amid the upward trend in the Indian equity market this week, a majority of new-age tech stocks under Inc42’s purview ended the week in the green. Twenty of the 33 new-age tech stocks rose in a range of 0.21% to slightly over 15% this week.

FirstCry emerged as the biggest gainer after crashing over the last two weeks. The kids-focussed omnichannel retailer gained 15.07% this week to end at INR 391.05. With the rally, its market cap surged to $2.4 Bn from $2.1 Bn at the end of the last week. Despite this, the stock is down about 41% year to date.

Shares of fintech major Paytm gained 5.54% to end the week at INR 919.40. The rally for Paytm’s shares started on Tuesday after the company informed that the GST demand and penalty imposed by the joint commissioner, CGST, Delhi, has been reduced from INR 1.19 Cr to INR 59.69 Lakh. Besides, the demand of penalty on its CEO Vijay Shekhar Sharma has also been slightly reduced to INR 59.70 Lakh.

In February this year, the fintech company was fined for alleged non-compliance in the issuance of tax invoices to its customers.

Shares of Paytm’s competitor MobiKwik jumped 4.59% to end the week at INR 254.30. The company’s shares rallied the highest on Thursday (June 26) after its investor Net1 Applied Technologies sold its entire 8% stake in the company via a bulk deal for INR 143.06 Cr ($16.7 Mn). Net1 had invested $40 Mn in the Delhi NCR-based company in 2016, implying a 58% loss on its initial investment in MobiKwik.

Other gainers this week included Swiggy, Ather Energy, Nazara Technologies, Eternal, Honasa Consumer, ideaForge, among others.

Meanwhile, shares of 14 companies ended the week in the red, bleeding in a range of 0.37% to less than 10%. DroneAcharya emerged as the largest loser this week, with its shares plunging 9.59% to end the week at INR 78.43.

The bearish sentiment for the dronetech company came after it announced deferring its financial results for H2 FY25 till July 11 on June 20. This week, the company informed that the BSE has slapped a fine of INR 1.30 Lakh on it for the delay in filing its financial results for the six-month period and the year ended March 2025.

Amid the list of losers, Ola Electric plunged to an all-time low of INR 43.01 on Friday (June 27) before recovering slightly to end the week at INR 43.09. Overall, the company’s shares fell 6.43% this week.

Other losers this week included PB Fintech, Unicommerce, Veefin, Yatra, Fino Payments Bank, among others.

B2B construction material marketplace ArisInfra Solutions became the second new-age tech company to list on the bourses this year.

After listing at a discount on the bourses on Wednesday (June 25), the company’s shares plunged 14.30% from its listing price of INR 209 at the BSE to end the week at INR 177.05. With this, the company’s shares have slid over 20% from its IPO price of INR 222. The company’s market capitalisation slid from $209 Mn at its IPO to end the week at $167.9 Mn.

Including ArisInfra, the cumulative market capitalisation of 34 new-age tech companies stood at $92.16 Bn at the end of the week as against the $88.16 Bn market cap of 33 new-age tech companies last week.

Startup IPOs The Flavour Of The Season

Driven by improving global sentiment, easing geopolitical concerns, and buying by FIIs in the latter part of the week, the Indian equity market rallied significantly for the second straight week. Both the Sensex and Nifty 50 rose over 2% to end the week at 84,058.90 and 25,637.80, respectively.

The rally this week was also supported by decline in crude oil prices and speculations over the potential India-US trade deal being announced soon, as per Vinod Nair, head of research at Geojit Investments.

“As the first-quarter earnings season draws near, investors are turning their focus to corporate results for early indications of growth trends. There is also heightened anticipation around trade agreements that the US is expected to finalise with major global partners in the coming weeks,” he noted.

Meanwhile, the broader market rally, which has seen Sensex jump over 7% year to date, has also resulted in a lot of new-age tech startups filing DRHPs for their long-due IPOs. After Capillary Technologies filed its DRHP last week, Pine Labs and Wakefit filed their draft papers in the final week of June.

Meanwhile, Meesho is gearing up to soon file its IPO papers via the confidential route. The company’s board greenlit raising up to INR 4,250 Cr (around $500 Mn) via the fresh issue, while the OFS component is yet to be decided upon.

“This upcoming wave of IPOs offers investors a diverse mix of opportunities across sectors — further reinforcing the depth and vibrancy of India’s capital markets. As the fundraising pipeline strengthens, we anticipate the primary market could well surpass expectations for the first half of FY26,” Bajaj Broking said in a note on the public issue landscape this week.

With that, let’s take a look at what happened with Delhivery and Nykaa this week.

Delhivery’s Bull Run Continues

Logistics major Delhivery has largely been on a bull run for a large part of the ongoing year, with its shares up almost 10% year to date. This week, the company’s shares surged 6.97% to end at INR 382.80, making it the second biggest gainer.

The shares continued last week’s momentum this week on the back of its announcement of its entry into the hyperlocal delivery market on June 20.

This week, Delhivery’s investor Nexus Venture Partners offloaded 1.2 Cr shares of the company via block deals for INR 461 Cr.

The upward trend in the stock is a result of the company’s improving financial performance. In Q4 FY25, Delhivery’s consolidated net profit stood at INR 72.6 Cr as against a loss of INR 68.5 Cr in the year-ago quarter. Operating revenue grew 6% to INR 2,191.6 Cr from INR 2,075.5 Cr in Q4 FY24.

With that, the company registered its first profitable fiscal year in FY25, posting a net profit of INR 162.1 Cr as against a loss of INR 249.2 Cr in FY24.

Nykaa’s Lofty Goal For Fashion Vertical

Ahead of its annual investor day on Thursday (June 26), BPC major Nykaa’s shares gained significantly. Overall, the stock rose 6.52% this week to end at INR 209.85, becoming the third biggest gainer this week.

On its annual investor day, the company said its quick commerce vertical, Nykaa Now, is now live in seven cities. It sees Nykaa deliver beauty products in a time range of 30-120 minutes. For this service, the company has set up about 40 rapid stores in cities.

In its Q4 earnings call, Nykaa beauty business’ CEO Anchit Nayar said that the service would be rolled out to more cities soon. “This capability exists and is primarily used for luxury products,” Nayar said, adding that the company’s physical stores are designed as aspirational stores located in premium real estate, making them less optimal as warehouse spaces.

Besides, the company claimed that its fashion business will break even in FY26. It is targeting a 10% steady state EBITDA margin for its fashion business.

For its bread-and-butter beauty business, the company is aiming for a mid-20% growth in gross merchandise value (GMV) till FY30.

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