News of a ceasefire between India and Pakistan and a measure of dilution in the US-China tariff standoff likely contributed to an early week rally for new-age tech stocks on Monday. 31 of the 33 stocks ended Monday’s trade in the green, cumulatively gaining over $3 Bn in M-Cap.

TAC Infosec showed the biggest gains, and while the likes of Swiggy, MapmyIndia, Zaggle and Ather Energy also climbed just after releasing their Q4 financials.

The coast is not yet clear though, as most experts expect as the geopolitical storms and tensions on the India-Pakistan line of control continue, especially with news of more drone incursions over the past couple of days, despite the ceasefire being widely announced.

Sensex Climbs: Overall, this was the best trading day for Indian markets in the past two years, and even stocks that should have been under pressure, such as travel and ecommerce rebounded after markets opened. So what was the reason?

• Most analysts believe the rally is a result of the ceasefire announced between India and Pakistan over the weekend after intense clashes in the past week
• There’s also the easing of the US-China tariff war, where both sides committed to less aggressive positions on imports into one country from the other for the next 90 days
• Plus, FIIs remained net buyers in the Indian equity market, coupled with an increase in retail investor participation in the new financial year

Will The Ceasefire Hold? A fourth factor — a wild card, if you will. Perhaps word about an address by Prime Minister Narendra Modi on Monday evening buoyed hopes in the market during the day.

PM Modi reiterated that a ceasefire has been agreed between India and Pakistan, but repeated reports of more drone flyovers in Jammu & Kashmir and other parts of the country have the potential to test the market again today.

If at all there are more reports (or even rumours) of a skirmish or other clashes overnight, Monday’s gains are likely to be erased relatively quickly.

The EV maker trimmed its net loss by 17% YoY to INR 234.4 Cr in Q4 FY25. Meanwhile, the company’s operating revenue zoomed 29% YoY to INR 676.1 Cr during the quarter under review. For the full fiscal, Ather trimmed its losses by 23% to INR 812.3 Cr

: The cloud kitchen startup’s board gave its nod to change its name to ‘Curefoods India Limited’ from ‘Curefoods India Private Limited’ previously. The Bengaluru-based startup plans to raise INR 1,500 Cr via its IPO by December 2025

: The leading UPI player saw a major tech outage in the evening of May 12 due to “a network capacity shortfall”. Besides PhonePe, users have found difficulties in their UPI transactions on Google Pay

: In line with its bid to increase domestic shareholding ahead of IPO, the quick commerce unicorn has brought in Motilal Oswal’s founders to its cap table in a $100 Mn secondary deal

The fintech SaaS company reported a 62% jump in its net profits to INR 31.1 Cr in Q4 FY25 from INR 19.2 Cr in the year-ago quarter. Zaggle’s operating revenue soared 51% YoY to INR 412.1 Cr in the quarter under review

FamApp surpassed Amazon Pay to become the eighth biggest UPI player in April. CRED also marched past Axis Bank to take the eighth spot. Meanwhile, PhonePe, Google Pay and Paytm continue to lead the race

The D2C snacking brand secured $40 Mn in its Series C funding round led by L Catterton. The Delhi NCR-based startup sells dry fruits and nuts in different flavours and has raised $54.7 Mn since its inception

The ride hailing major looks to take on the recently minted unicorn at its own turf by launching its large goods delivery service, Courier XL, in Mumbai and Delhi NCR

Biomanufacturing processes continue to be plagued by a slew of challenges including high carbon emissions and significant biowaste generation. To address these pain points and build scalable, cost-efficient, and sustainable biomanufacturing solutions, Hitesh Rafalia founded Cellarim Labs in 2023.

An India First? Cellarim claims to be India’s first cell-free biomanufacturing platform that eliminates the need for fossil fuels or expensive living cells growth and reduces costs while significantly cutting greenhouse gas emissions.

Feedstock To Bio-Chemicals: The Bengaluru-based startup transforms sustainable feedstock into high-value biochemicals. The startup claims that unlike traditional methods, its modern approach helps to deliver over 95% yield, reducing water consumption by 90%.

Eye On The Prize: Backed by the likes of 100X.VC, the biotech startup is looking to grab a pie of India’s growing biochemical market, which stood at a staggering $165.7 Bn economy in 2024.

Competing against giants such as BASF, DuPont and Biocon,

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