Business · Updated 25 Oct, 12:19 am IST
Swiggy leads sell-off as Indian new-age tech stocks lose over $11bn
Why it matters for readers: It explains why familiar app companies' stocks can drop suddenly after quarterly results or market weakness.
- Swiggy fell 24.5% to close at ₹176.70 after Q2 FY27 results flagged rising losses at Instamart.1
- Of 67 tracked new-age tech stocks, 63 declined this week, causing a combined market capitalisation loss of over $11 billion.1
- Twelve firms, including Yatra, Turtlemint, FirstCry, Unicommerce, and IndiaMART, hit fresh 52-week lows during the holiday-shortened week.1
- Two recent IPOs, Zetwerk and Tonbo Imaging, debuted at premiums but closed below their BSE listing prices, down about 13.02% and 2.44% respectively from listing price.1
- The 69 tracked new-age tech stocks now have a combined market capitalisation of about $152.32 billion, around 3.2% of BSE-listed companies' market cap.1
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