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Twenty of the 35 new-age tech stocks grew in the range of 0.48% to over 24% between July 14 and July 18
With the inclusion of Smartworks, the total market capitalisation of the new-age tech companies, under Inc42’s coverage, stood at $91.92 Mn during the week
Markets extended their losing streak into the third consecutive week of July, with the Sensex declining 0.9% to end the week at 81,757.73, while the Nifty 50 slipped 0.7% to 24,968.40
Despite the broader market decline due to a weaker-than-expected start to the Q1 earnings season, a majority of new-age tech stocks covered by Inc42 performed well on the Indian bourses. Twenty of the 35 new-age tech stocks grew in a range of 0.48% to over 24% between July 14 and 18.
The recent addition to Inc42’s list of new-age tech companies, Smartworks, got listed at a premium of 7% at INR 445.10 on the BSE on Thursday.
The stock further gained 3% to end the week at INR 458.30. It touched its first all-time high of INR 469 on the day of its listing, that is, July 17.
With the inclusion of Smartworks, the total market capitalisation of the new-age tech companies, under Inc42’s coverage, stood at $91.92 Mn this week, slightly higher than the $91.46 Bn reported at the end of last week.
Moving on, online travel aggregator ixigo gained the most, up over 24%, to close the week at INR 217.40. The stock skyrocketed on the back of its upbeat Q1 FY26 results.
While competitor Yatra gained 8.09% to close the week at INR 91.04, EaseMyTrip ended the week at INR 10.63, up 2.21%. EaseMyTrip, which has declined more than 32% so far this year, has seen a slight respite this week from its fresh 52-week low of INR 10.28 on Monday.
B2B travel tech company TBO Tek rose 7.57% to end the week at INR 1,419.95, taking the fifth spot among the gainers this week. The company’s shares rallied after its first annual general meeting (AGM) as a listed company on Monday.
The company’s cofounders, Gaurav Bhatnagar and Ankush Nijhawan, said that the company is now focussed on deepening its AI play, expanding its portfolio to rail and cruise and executing “disciplined” M&As.
In the list of gainers, Delhivery continued to gain this week, zooming 3.55% to end the week at INR 425.50. The Delhivery stock is up 22.24% year-to-date (YTD). The rally in the stock has been triggered by its acquisition of competitor Ecom Express.
In addition, Ola Electric (3.69%), Awfis (2.41%), IndiaMART(1.80%), Paytm (5.23%), and Nazara (7.21%) were among the week’s top performers.
Overall, 14 new-age tech stocks ended the week with losses ranging from 0.07% to nearly 9%.
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NSE SME listed Menhood was the biggest loser this week, losing 8.94% to end the week at INR 162. DroneAcharya and TAC Infosec stocks also lost significantly during the week, down 8.46% and 3.08%, respectively.
Ahead of its financial results on Tuesday (July 22), ideaForge’s shares lost 4.14% to end the week at INR 543.25. Brokerages are apprehensive about the drone tech startup’s Q1 FY26 performance.
“ideaForge will continue to report disappointing numbers due to lower opening order book, delay in order finalisation of L1 orders and muted ordering activity. Revenue for ideaForge will be driven by run rate business. However, in 1Q FY26 ideaForge has won orders worth INR 1.4bn, which will drive revenue from 1HFY26,” JM Financial said.
Other losers this week included Eternal, Nykaa, PB Fintech, ArisInfra, and others.
Markets Remained Dull This Week, Too
Markets extended their losing streak into the third consecutive week in July, as investors remained cautious due to the disappointing start of the earnings season and the ongoing uncertainty around the US-India trade deal.
While the Sensex declined by 0.9% to 81,757.73 at the end of the week, Nifty 50 slipped 0.7% to 24,968.40. The benchmark indices showed some resilience during the initial three sessions, but the bear took over in the latter half.
“Nifty ended the week below the key psychological mark of 25,000, indicating sustained caution. The index remains vulnerable to further downside if it breaks below the immediate support zone of 24,900. A breakdown could drag the index toward the 24,450–24,700 zone in the coming sessions,” Religare Broking’s research SVP Ajit Mishra said.
Mishra added that midcap and smallcap indices registered healthy gains despite weakness in frontline stocks. Notably, most new-age tech companies, barring Eternal and Swiggy, are featured in various smallcap and midcap indices of the BSE and the NSE.
Analysts expect the indices to remain in a consolidation phase with a negative bias in the near term, amid a weak start to the earnings season and ongoing global uncertainties.
Now, let’s take a deeper look at the performance of ixigo and Ola Electric. While ixigo remained the top gainer of the week, Ola Electric broke its bearish trend this week.
ixigo’s Shares Surge On Upbeat Financials
After reporting its Q1 FY26 results on Wednesday, ixigo’s shares surged 24.16% to end the week at INR 217.40, taking the company’s market cap back to $1 Bn. With this, the company’s shares have increased 18.78% YTD.
The online travel aggregator reported a robust Q1 FY26, with consolidated net profit surging 27% year-on-year (YoY) to INR 18.9 Cr. This growth was propelled by a 73% increase in operating revenue to INR 314.5 Cr. EBITDA saw a significant 69% rise to INR 32.5 Cr. Gross Transaction Value (GTV) rose 55% to INR 4,644.7 Cr.
While all three core segments—train, bus, and flight bookings—were profitable, the train business contributed the most to revenue. However, Freshbus, its associate bus ticketing platform, continued to incur losses.
Brokerage firm JM Financial has a ‘Buy’ rating on the stock, with a price target of INR 220.
“We expect ixigo to continue to deliver above-market growth in the near term on the back of effective cross-selling of services across its various apps, immense focus on superior customer experience and robust traction for its differentiated value-added services,” the brokerage firm said.
Ola Electric Shares Revive This Week
After reporting a lukewarm Q1 FY26 performance on Monday, Ola Electric’s shares finally broke out of the bearish phase that they were in. The company’s shares ended the week up 3.69% to end at INR 41.29.
The stock touched an all-time low of INR 39.58 on Monday. Notably, Ola Electric’s shares have crashed 52.12% so far this year.
Ola Electric’s Q1 FY26 saw its consolidated net loss widen 23.3% YoY to INR 428 Cr, driven by a significantly lower sales volume. Revenues nearly halved to INR 828 Cr during the quarter.
However, the company showed sequential recovery, as losses reduced by 50.8% QoQ, and revenue jumped 35.5% QoQ. Notably, the EV maker became EBITDA positive in June.
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