This week, new-age tech stocks have maintained their rally as the broader Indian market showed signs of recovery. Out of the 56 new-age tech stocks monitored by Inc42, 46 experienced increases ranging from 0.06% to over 20%.
Online travel aggregator Yatra was the standout performer, soaring 20.15% to close the week at ₹123.2. Competitor ixigo also saw a rise of 5.14%, finishing at ₹179.05, while EaseMyTrip fell by 2%, ending the week at ₹7.85.
Other notable gainers included larger firms such as Eternal (up 5.14%), Groww (up 2.37%), Paytm (up 3.45%), and Nykaa (up 3.95%).
Additionally, shares of five companies—Lenskart, Ather Energy, Honasa Consumer, Groww, and Aequs—reached new 52-week highs this week.
Conversely, shares of 10 new-age tech companies saw declines ranging from 0.17% to nearly 5% this week. Yudiz closed the week down 4.86% at ₹29.35, with Delhivery, Ola Electric, and Wakefit also among the losers.
Overall, the market capitalization of the 56 new-age tech companies increased by over $4 billion, reaching $133.72 billion by the week's end.
Let’s explore some developments from listed new-age tech companies this week:
- Delhivery’s early investor, Nexus Venture Partners, sold shares worth ₹186 crore at ₹465 each through block deals, bringing its total sales to ₹716 crore within a week.
- Zelio E-Mobility appointed Divyanshu Agarwal, the former head of Navi’s UPI business, as its CEO, effective April 15. Agarwal will oversee the company's growth strategy and manufacturing expansion.
- Shadowfax has begun acquiring the remaining 10.41% stake in logistics firm Criticalog India, which will turn the latter into a wholly owned subsidiary. This transaction is expected to conclude this month.
- Paytm's stake in its defunct real money gaming subsidiary, First Games, increased from 55% to 83% following the conversion of a ₹197 crore loan investment into 19.68 crore shares. Paytm reported that First Games' net worth fell to negative ₹267.08 crore at the end of FY25.
Now, let’s look at the broader market trends this week.
Markets Rise on IMF Projections and West Asia Peace
In a week shortened by holidays, benchmark indices Sensex and Nifty 50 both rose by 1.2%, closing at 78,493.54 and 24,353.55, respectively. The rally was driven by improving global sentiment and hopes for a resolution to the military conflict in West Asia.
The stock exchanges were closed on April 14 (Tuesday) in observance of Ambedkar Jayanti.
On the domestic front, inflation indicators showed some firming. CPI inflation rose to 3.40% in March 2026 from 3.21% in February, largely due to increased food prices. Wholesale inflation reached a 38-month high of 3.88%, driven by rising costs in crude petroleum, fuel, and manufactured goods, indicating growing cost pressures.
In a positive development, the IMF upgraded India’s FY27 GDP growth forecast to 6.5%, despite highlighting global recession risks and noting that India has fallen to the world’s sixth largest economy, behind the US, China, Germany, Japan, and the UK.
However, foreign institutional investors (FIIs) were net sellers during the week, offloading equities worth ₹250 crore, according to Pabitro Mukherjee, AVP of research at Bajaj Broking. Domestic institutional investors also turned net sellers, with outflows of ₹6,290 crore over the same timeframe.
Looking ahead, Geojit's research head Vinod Nair stated that market direction will depend on progress in negotiations between the US and Iran, stability in crude oil prices, and trends in foreign capital flows.
“Sustained de-escalation could ease inflation and currency pressures, improving risk appetite for import-sensitive markets like India. Q4 earnings and FY27 management guidance will shape sectoral leadership. Sentiment is constructive but markets will remain selective amid lingering global uncertainties,” he added.
Next, we’ll review the week’s performance for Fino Payments Bank and PhysicsWallah.
Fino Payments Bank Shows Recovery
Shares of Fino Payments Bank experienced a modest increase this week, climbing over 5% to close at ₹142.4. This uptick in investor interest coincided with the bank's announcement on April 15 (Wednesday) regarding its transition to a new Finacle core banking system (CBS), involving a ₹200 crore investment aimed at enhancing scalability and facilitating its transition into a small finance bank.
The bank noted that the migration was executed in a phased manner, resulting in a temporary decrease in business volumes during Q4 FY26 to ensure system stability and data integrity. “Despite the scale and complexity involved, the transition was completed within the anticipated timeline, underscoring strong execution and operational discipline,” the bank stated.
While this migration temporarily affected business volumes in Q4 FY26, it is expected to enable quicker product launches, improved transaction throughput, and readiness for lending expansion.
This development comes as Fino aims to shift from a payments-focused model to a more diversified small finance bank structure, which could significantly broaden its revenue sources beyond transaction income.
On the management front, the bank announced that MD & CEO Rishi Gupta has been unavailable for over 45 days due to a pending “fit and proper” reassessment. He will resume his responsibilities after receiving approvals from the Reserve Bank of India and the bank’s board.
h2>PhysicsWallah Pursues Another Acquisition
Shares of PhysicsWallah rose over 6% during the week, closing at ₹108.2. The edtech company informed exchanges that a tax demand for the assessment year 2023-24 (AY24) had been reduced to ₹192.76 crore from ₹263.34 crore following a rectification order. PhysicsWallah has also challenged the revised demand.
The I-T department issued the tax order in March, classifying investments received during AY24, including funds from SEBI-registered Category II AIFs, as taxable income.
In a separate development, reports indicated that PhysicsWallah is in discussions to acquire the test-prep platform “Rojgar With Ankit.” In response to an inquiry from the exchanges, the company confirmed that it is evaluating the acquisition.
“The company continuously evaluates various strategic opportunities with a view to enhance stakeholder value and drive growth for the organization. In this regard, the company remains in discussions with relevant parties from time to time, including the one referred to above [Rojgar With Ankit],” it stated.
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