Indian new-age tech stocks rise as Ather Energy leads gains

New-age tech stocks in India saw significant movement this week, driven largely by quarterly earnings. Out of 69 stocks tracked, 40 recorded gains ranging from 0.2% to 26.8%, while 29 declined by up to 22.3%. The combined market capitalization of these companies rose by 5.7%, increasing from $152.32 billion to $160.94 billion.

Ather Energy led the upward trend, rising 26.8% to close at ₹1,755.05 after reporting its first quarterly net profit. Other notable gainers included Zetwerk, which rose 18%, and Tonbo Imaging, which climbed 15.3%. Companies such as Nykaa, Eternal, and Shadowfax also reached new 52-week highs.

Conversely, 15 stocks hit new lows, including Swiggy, FirstCry, MapmyIndia, and LEAP India. CarTrade experienced a decline of 22%.

Other sector developments included Nazara Technologies infusing $77 million into its UK subsidiary to fund the acquisition of Spanish gaming companies Bluetile Games and Bestplay Systems. Additionally, Zelio E-Mobility commenced operations at a new manufacturing plant in Haryana, adding an annual capacity of 72,000 electric vehicles.