Whalesbook
New-Age Tech Stocks Face Headwinds
New-age technology stocks listed on Indian exchanges navigated a challenging trading week from January 12-16, with a significant majority succumbing to selling pressure. Out of 50 companies tracked, 33 saw their share prices fall between 0.59% and approximately 10%. This broad decline resulted in a nearly 3% drop in the cumulative market capitalization of these firms, settling at $136.55 billion from $140 billion at the year's start.
Select Firms Buck the Trend
Amidst the widespread weakness, a handful of companies managed to post gains. Seventeen new-age tech stocks advanced, with share price increases ranging from a modest 0.02% to over 13%. NSE SME-listed TAC Infosec led the advancers, surging 13.33%, while ArisInfra secured the second position with a 9.55% rise. Groww, the online brokerage platform, also experienced a substantial rally, climbing 9.19% following its robust third-quarter financial disclosures.
Key Company Updates Emerge
Several companies released significant operational and financial news. Coworking provider Smartworks turned profitable in Q3 FY26, reporting a net profit of ₹1.2 crore against a loss in the prior year. Delhivery's subsidiary, Spoton Logistics, is contesting a GST appeal of over ₹32.78 crore from Haryana tax authorities. FirstCry faces a customs adjudication order demanding ₹6.56 crore related to import duty lapses. MapmyIndia expanded its portfolio by acquiring a minority stake in Iwayplus for approximately ₹2 crore, marking an entry into indoor mapping. Urban Company established a new subsidiary in the UAE to market its 'Native' product line.