New Age Tech Stocks News

Indiamart Intermesh shares rose 6.5% to ₹2,655, reaching an 8-month high. The increase followed an upgrade from Nuvama Institutional Equities, which raised its rating to 'buy' and target price to ₹3,800, anticipating a new demand upcycle.

Swiggy share price rose 7.3% to ₹357, its highest in four weeks, after Morgan Stanley rated it 'Overweight' with a target of ₹405. Positive sentiment stems from improved food delivery execution and strategic investments in quick commerce.

Applied Digital Corp's stock has increased by over 43% today, with demand for it simply increasing by each passing minute.

Swiggy and Eternal reported Q4 results, with both facing profitability challenges due to rising expenses and competition. Eternal's profit fell 78% to ₹31 crore, while Swiggy's losses widened to ₹1,081 crore. Analysts have adjusted target prices, favouring Eternal over Swiggy.

Shares of Zomato and Swiggy have dropped significantly amid a broader market correction, with Zomato trading 32.6% below its peak and Swiggy down 47%. Despite competition from new entrants, analysts suggest that current valuations present a buying opportunity for investors.

The Indian market is under stress as Trump's tariff announcements trigger investor caution. New-age tech stocks, including Zomato and Swiggy, have faced steep declines, eroding market value and trading below IPO prices.

Stocks of Paytm and PB Fintech have dropped by 40% and 28%, while Delhivery and Brainbees Solutions fell by 44%. New entrants like Go Digit and others experienced declines up to 64%, amid a fragile investor sentiment in the Indian stock market.

Zomato has posted impressive stock price gains, with the company’s shares rallying 41% in the last six months and over 128% year-to-date (YTD). This growth has been driven by steady expansion in its core food delivery business and strong demand in its quick commerce division, Blinkit.

New-Age Tech Stocks: Ola Electric Mobility snapped its earlier winning streak and emerged as the biggest loser in the pack. On the other hand, CarTrade Tech logged the biggest weekly gain, rising nearly 14 per cent in the last five days.

PB Fintech's shares rose 3.2% to ₹1,698 after reporting a net profit of ₹51 crore in Q2 FY25 as against a loss last year. However, shares later fell 2.5%. The company's revenue grew 44% year-on-year, driven by strong demand in the insurance sector.