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New-Age Tech Stocks Tumble This Week, Swiggy Leads Sell-Off With 24.5% Fall

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New-Age Tech Stocks Tumble This Week, Swiggy Leads Sell-Off With 24.5% Fall

New-age tech stocks lost over $11 Bn in combined market capitalisation this week, with Swiggy leading a broad sell-off amid weakness in the wider Indian equity market.

Of the 67 stocks under Inc42’s coverage before this week’s listings, 63 declined between 1.03% and 24.5%. Only Yudiz, Capillary, ixigo, and Tracxn ended the week higher.

Swiggy was the biggest loser, falling 24.5% to close at ₹176.70 after its Q2 FY27 results highlighted mounting losses at quick commerce arm Instamart. The stock touched an all-time low during intraday trade yesterday. 

Twelve other stocks, including Yatra, Turtlemint, FirstCry, Unicommerce, and IndiaMART InterMESH, hit fresh 52-week lows during the holiday-shortened week.

The selling extended to Eternal, Ola Electric, Paytm, and Lenskart, dragging the combined market capitalisation of the 67 companies to $149.2 Bn.

Meanwhile, B2B manufacturing company Zetwerk and defence tech company Tonbo Imaging made their public market debuts at a premium yesterday. Both came under pressure after listing, closing 13.02% and 2.44% below their respective BSE listing prices.

The two additions took the combined market capitalisation of the 69 new-age tech stocks tracked by Inc42 to $152.32 Bn, equivalent to about 3.2% of the total market capitalisation of BSE-listed companies.

Here are some of the key developments at listed new-age tech companies during the week.

Eternal reported a nearly 92% YoY jump in Q2 FY27 net profit and unveiled Dark, an end-to-end encrypted AI platform for advanced AI users. Founder Deepinder Goyal said a global launch is planned before the end of 2026.



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