Amid a broader market decline, new-age tech stocks witnessed a mixed week on the bourses. Of the 47 new-age tech stocks under Inc42’s coverage, 26 fell in a range of 0.37% to over 14% this week. Meanwhile, 19 companies gained in a range of 0.07% to over 27%. Shares of EaseMyTrip and BlueStone ended the week flat.

Meesho and Aequs made their market debuts this week, becoming the latest additions to Inc42’s listed company coverage. The shares of both the companies listed on the bourses on December 10 (Wednesday) at a premium to their issue prices and continued to see significant investor interest in the remainder of the week.

The listed new-age tech company count will touch 50 next week with the listing of Wakefit on December 15 (Monday). The company’s IPO closed with a 2.5X oversubscription.

Meesho, whose shares made their debut at a significant 45% premium on the BSE, ended the week 1.66% above its listing price at INR 165.2. Aequs had a more sombre listing, with a premium of 13%, but its shares gained 5.04% to end the week at INR 147.05.

With the new additions, the total market capitalisation of the 49 new-age tech companies stood at $136.16 Bn. Excluding Meesho and Aequs, 47 new-age tech companies’ market cap declined to $126.84 Bn from $128.67 Bn last week.

After seeing a hefty slide in its share prices post SEBI crackdown, dronetech company DroneAcharya regained some footing this week. Hitting upper circuit on multiple occasions, the company’s shares gained 27.14% to end the week at INR 51.11.

Fino Payments Bank topped the list of losers this week, with its shares sliding 14.76% to end the week at INR 268.2. It is pertinent to note that shares of seven companies touched fresh lows this week – IndiQube, ArisInfra, Urban Company, Tracxn, Awfis, FirstCry and Ola Electric.

Now, let’s take a look at some of the key developments pertaining to the listed new-age tech companies this week:

• Recently listed edtech major PhysicsWallah posted a net profit of INR 69.7 Cr in Q2 FY26 against a net loss of INR 127 Cr in the preceding June quarter. Operating revenue increased 26% YoY and 24% QoQ to INR 1,051.2 Cr. The stock ended the week 0.07% higher at INR 136.
• The second biggest gainer this week, TAC Infosec, announced that its US-based subsidiary CyberScope filed a Form F-1 registration statementwith the US Securities and Exchange Commission (SEC) for a listing on the Nasdaq. The disclosure triggered a bull run for the SME company, with its shares gaining 11.7% to end the week at INR 802.
• EV major Ola Electric announced the commencement of Hyperdelivery, offering same-day registration and delivery of vehicles, for its 4680 Bharat Cell powered vehicles in Bengaluru. The company’s shares touched a low of INR 33.17 on December 9 (Tuesday) but picked pace in the last three trading sessions, ending the week 3.38% higher at INR 36.7.
• Eternal announced the liquidation of Zomato’s Turkey and Sri Lanka entities on Wednesday.
• Coworking space provider Smartworks appointed former CEO and founder of AI company Data3 Network, Siddharth Banerjee, as its new group CTO. He will succeed Gokul Rajasekar, who is serving his notice period.

With that, let’s take a look at the broader market trends this week.

The Indian equities market began the week on a cautious note, with the Nifty 50 slipping below the 26,000 mark amid sustained FII outflows, continued weakness in the rupee, and uncertainty around the US-India trade negotiations. Sentiment was further weighed down by global risk-off cues, including a rise in Japanese bond yields and expectations of a potential rate hike by the Bank of Japan (BoJ) in December.

Market sentiment, however, improved sharply in the latter half of the week after the US Federal Reserve announced a 25 basis point rate cut which eased some global liquidity concerns as well as revived hopes of FII inflows. However, both the Sensex and Nifty 50 ended the week 0.5% lower at 85,267.66 and 26,046.95, respectively.

“With supportive central bank policies, steady domestic investments, and optimism over trade progress despite unclear timelines, the benchmarks closed the week on a strong note,” Geojit Investments’ research head Vinod Nair noted.

Looking ahead, markets are expected to retain a positive bias but will remain sensitive to rupee movement, FII flow trends and clarity on trade agreements, along with global cues from the BoJ, ECB and BoE.

Besides, CPI inflation data for November released by the central government on Friday also point to a positive market movement next week. In the month, inflation quickened to 0.71% from 0.25% in October as food inflation bottomed out, led by higher vegetable prices due to unseasonal rains. Core inflation, however, moderated to 4.34% in November from 4.41% in October on relatively muted inflation in housing and precious metals.

With that, let’s take a look at the performance of Swiggy and Fino Payments Bank.

Within a year of going public, Swiggy completed its QIP issue. The company raised close to INR 10,000 Cr amid the intensifying competition in the quick commerce segment.

The company said that it allocated the new shares at INR 375 apiece, a discount of about 4% to the floor price of INR 390.5.

The QIP saw participation from 21 mutual funds, 8 domestic insurance companies, and global investors like Capital Group, Government of Singapore, BlackRock, Nomura Asset Management, Temasek, Fidelity, Goldman Sachs Asset Management, among others.

Swiggy plans to double down on its quick commerce arm Instamart. It plans to deploy INR 4,475 Cr in Instamart to expand its dark store network. Complimenting the expansion would be its capital infusion in marketing and promotion.

Shares of the company gained 5.71% this week to end at INR 416.7. It gained about $540 Mn in market cap this week, taking its valuation to $11.47 Bn.

Shares of Fino Payments Bank, which gained over the past few weeks, lost steam this week. The company’s shares plunged 14.76% to end the week at INR 268.2.

The selling pressure came after the payment bank said on December 6 (Friday) that it receivedin-principle approval from the RBI to convert into a small finance bank (SFB).

The regulatory clearance came after a year marked by multiple compliance actions against the bank. Fino applied for the SFB licence in January last year. These regulatory issues included Fino settling a case pertaining to alleged disclosure lapses with the Securities Exchange Board of India by paying a settlement amount of INR 5.89 Lakh in October.

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