Ather Jumps 17% To Lead Weekly Rally In New-Age Tech Stocks, MapmyIndia Biggest Loser
With the Q1 earnings season in full swing, investors actively traded new-age tech stocks based on the latest financial disclosures,…
This week witnessed a significant rally in new-age tech stocks, with Ather Energy leading the charge at a staggering 17% gain, propelling the electric two-wheeler maker to a record high of ₹1,507.30. Other tech stocks, including Capillary Technologies and Urban Company, also experienced gains of 12.68% and 11.17%, respectively, following their respective Q1 earnings.
The performance of these tech stocks sparked a week-long rally in the sector, with 37 of the 59 listed new-age tech companies ending the week in the black. However, not all tech stocks were able to capitalize on the upward momentum. MapmyIndia, despite its recent IPO, suffered a 14.17% decline, making it the biggest loser of the week.
Other tech stocks, such as ixigo and edtech Klassroom, also experienced declines. Meanwhile, the combined market capitalization of the 60 listed new-age tech companies reached $151.98 billion, marking an 11% increase from the previous week.
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