ESDS Soars 92% To Lead New-Age Tech Stocks This Week, MDR Hopes Lift Fintechs
New-age tech stocks delivered a mixed performance this week as weakness in the broader equity market kept investor sentiment cautious.…
ESDS Software skyrocketed 91.65% in its debut week of trading, closing at ₹1,716.35 on the BSE. This marked the biggest gain among listed new-age tech companies this week. Meanwhile, the broader new-age tech sector delivered a mixed performance, with half of the 63 companies under Inc42's coverage declining between 0.01% and nearly 14%.
Notable declines included Yudiz Solutions (-13.91%) and LEAP India (-9.23%). However, some firms like Lenskart, Paytm, and Nykaa reached new highs, while Swiggy, Honasa Consumer, and Groww experienced healthy gains. In unrelated news, RentoMojo's IPO saw overwhelming demand, with shares slated to list on September 17. Shiprocket narrowed its consolidated net loss, while Cofounder Nishant Pitti pledged a stake in his company EaseMyTrip.
Swiggy agreed to acquire LYNK from Udaan in a share-swap deal valued at ₹500 Cr, increasing its stake in Udaan to 3.2%. Fintech SaaS company Veefin Solutions plans to migrate to the BSE mainboard and apply for a direct listing on the NSE. Ecommerce platform Meesho eliminated the chief product officer role as part of a product leadership restructuring.
Written by urgent.news from Inc42's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
