New-Age Tech Stocks Extend Rally, CarTrade Leads With 23.3% Gain

This week, new-age tech stocks continued their upward trend, with 54 out of 69 companies covered by Inc42 reporting gains between 0.4% and 23.3%. CarTrade emerged as the biggest gain leader, rebounding 23.3% after a sharp decline the previous week, closing at ₹2,699.30. Awfis also saw a significant rise of 20.4% to ₹281.65, while ixigo saw an 19.1% increase.

Notably, Tonbo Imaging and Zetwerk reached new highs during the week. Additionally, several stocks reached 52-week highs, including Lenskart, Ather Energy, Eternal, and Nykaa. This surge in gains lifted the combined market capitalization of the 69 companies to $169.3 billion from $160.9 billion the previous week, marking a 5.2% increase.

On the downside, RateGain experienced the steepest decline, falling by 9.19% to close at ₹725.90. Among other developments, Kissht's assets under management (AUM) crossed the ₹10,000 crore mark, thanks to growth in personal loans and its expansion into property loans. MobiKwik received an RBI license to operate as a Non-Banking Financial Company (NBFC), aiming to start operations within three to six months and disburse ₹5,000 crore in consumer and MSME loans over a period of three to four years.

Pine Labs partnered with Stripe to offer a unified platform for online and in-store payments to Singapore retailers, with plans to expand to other Southeast Asian markets in 2027.