Market Cap Of New-Age Tech Stocks Crosses $100 Bn Mark, Yatra & Paytm Gain Big

The Indian equities market finally snapped its six-week losing streak in the final leg of the Q1 season, ending the week with substantial gains. Despite this, new-age tech stocks saw a mixed week. 

In the shortened trading week, 21 out of the 36 new-age tech stocks gained in a range of 0.31% to close to 50%.

With the stocks of a majority of companies with large market capitalisation rising this week, the cumulative market cap of 36 new-age tech stocks surged to $100.2 Bn from $96.31 Bn at the end of last week. 

The stock exchanges were closed on August 15 (Friday) due to Independence Day.

After it posted healthy Q1 numbers on August 8, online travel aggregator (OTA) Yatra ended the week as the biggest gainer. The stock gained a whopping 47.9% to end the week at INR 141.76.

Its competitor, ixigo, was the second biggest gainer this week. The stock ended the week 14.27% higher at INR 268.60. The company’s shares have been on a bullish trajectory since it disclosed its Q1 numbers on July 16, gaining over 50% since then. With the rally, ixigo’s market cap zoomed past the $1 Bn mark and ended the week at $1.05 Bn. 

Beauty and personal care (BPC) majors Nykaa and Honasa Consumer reported positive numbers for the June quarter this week. As a result, the shares of both the companies rallied significantly this week. 

The Varun & Ghazal Alagh-led company ended the first quarter of FY26 with signs of revival from its underwhelming FY25 performance. Honasa reported a net profit of INR 41.3 Cr during the quarter, up over 2% YoY and 65% sequentially. Meanwhile, operating revenue registered a 7% YoY and 12% QoQ uptick at INR 595.3 Cr. 

The company’s disclosures on August 12 (Tuesday) triggered a bull run which sustained throughout the week. Its shares touched a fresh 52-week high at INR 271.20 on Thursday. The stock ended the week 7.85% higher at INR 268.60. 

Meanwhile, Nykaa reported a 80% YoY and 29% QoQ increase in its net profit to INR 24.5 Cr in Q1. Its top line grew 23% YoY and 5% QoQ to INR 2,154.9 Cr. The company’s shares ended the week 6.46% higher from the previous week at INR 215.10. 

Gaming major Nazara Technologies reported a net profit of INR 51.3 Cr in Q1 on Tuesday, more than double from the year-ago period. Its top line zoomed 99% YoY to INR 498 Cr. The company’s shares gained 1.76% to end the week at INR 215.10. 

Other gainers this week included Eternal, Swiggy, PB Fintech, Paytm, Unicommerce, Smartworks and TBO Tek.

Meanwhile, shares of 15 new-age tech companies ended the week 0.18% to about 8% lower. After reporting an underwhelming Q1 financial performance on August 7, Tracxn’s shares declined 7.55% this week to end at INR 50.92. 

On August 13 (Wednesday), Tracxn informed the exchanges of the closure of its share buyback, which saw the company buyback 10.7 Lakh shares at INR 75 apiece. Post the completion of the buyback, shares of Tracxn are now entirely held by its promoters and foreign institutional investors.

In the list of losers, MobiKwik continued to fall. The stock touched a fresh all-time low at INR 223.55 on Wednesday. It regained slightly to end the week at INR 225.45, down about 3% from the end of the previous week. The fintech company’s shares are down about 50% from its listing price of INR 442.25. 

Other losers this week included Zaggle, Awfis, IndiQube, Fino, TAC Infosec, Veefin, etc. 

With the IPO of BlueStone closing with 2.7X subscription this week, the omnichannel jewellery brand will become the latest addition to Inc42’s new-age tech stocks coverage next week.

Now, let’s take a look at the factors which led to the upswing in the broader market this week.

Broader Market Shows Signs Of Revival

In the holiday-shortened week, benchmark indices Sensex and Nifty 50 gained about 1% each to end at 24,631.30 and 80,597.66, respectively. 

Domestic cues remained favourable this week, supporting the market rally. Retail inflation eased to 1.55% in July — the lowest since June 2017 — driven by a fall in food prices. Wholesale inflation also stayed in negative territory at -0.58% for the second straight month. 

Additionally, S&P’s upgrade of India’s sovereign credit rating to BBB also gave a boost to investor sentiment this week. 

“… S&P Global Ratings upgraded India’s outlook, projecting GDP growth at 6.5% for FY26 while noting that US-imposed tariffs would have minimal impact given India’s limited export dependence,” Ajit Mishra, SVP of research at Religare Broking said.

Meanwhile, earnings of listed companies were in line with the market estimates. Geojit’s Vinod Nair observed that the overall trend was mixed during the quarter, as the revival expected from urban demand is yet to gather momentum.

“In the near term, stock-specific movements are likely to persist with attention toward domestic consumption-led sectors to beat volatility. The geopolitical developments, particularly the upcoming Trump-Putin meeting, could act as a catalyst for near-term market sentiment,” he added. 

Now, let’s take a closer look at the performance of Yatra and Paytm this week.

Bumper Week For Yatra

Shares of Yatra zoomed to an all-time high at INR 159.17 on Wednesday, gaining in double digits in the first three trading sessions. The stock pared some of the gains to end the week at INR 141.76. 

With this, the company’s shares have gained over 20% year to date and are trading about 9% over its listing price of INR 135 on the BSE. Its market cap now stands at $254 Mn. 

In Q1, the OTA reported a 4X YoY surge in its consolidated net profit to INR 16 Cr. The rise came on the back of a 108% YoY jump in operating revenue to INR 209.8 Cr. The company said its corporate business and hotels & packages vertical clocked strong performance. 

The YoY rise in top and bottom lines came despite adverse factors like global tariff wars, the Air India plane crash, and the India-Pakistan military conflict. 

Paytm Gets Key Regulatory Approval

Fintech major Paytm’s subsidiary Paytm Payments Services Limited (PPSL) finally received in-principle authorisation from the RBI to operate as a payment aggregator (PA) this week. 

On Tuesday, Paytm said that the central bank has also advised PPSL to undertake a system audit, including cyber security and IT audits, by roping in relevant authorities.

Last August, the fintech major received approval to invest INR 50 Cr in its payments arm from the Central government. Subsequent to that, it applied for the TPAP licence last year.

Following the development, shares of Paytm touched a fresh 52-week high at INR 1,186.50 on Wednesday. The stock settled at INR 1,150.25 at the end of the week, up 8.29% from the previous week’s close. Its market cap now stands at $8.38 Bn.

It is pertinent to note that Paytm also turned profitable in Q1 FY26, posting a net profit oINR 122.5 Cr against a net loss of INR 840.1 Cr in the year-ago quarter. Its operating revenue grew 28% to INR 1,918 Cr during the quarter under review from INR 1,502 Cr in Q1 FY25.