Ather Energy leads new tech stock rally, MapmyIndia biggest loser
Electric vehicle maker Ather Energy's stock jumped 17%, leading new-age tech stocks for the week. MapmyIndia emerged as the biggest loser during the same period.
Electric vehicle manufacturer Ather Energy topped the performance charts for new-age tech stocks this week, with its shares surging 17.45%*. The gains occurred during the ongoing Q1 earnings season, as investors reacted to companies' financial disclosures.
Ather Energy's stock rally followed the company's release of strong Q1 FY27 financial results on August 3. The stock rose every trading session of the week, closing at ₹1,480.80. It also reached a record high of ₹1,507.30 during the week.
Other technology companies also saw share price increases post-earnings, including Capillary Technologies, which gained 12.68%, and Urban Company, up 11.17%. Ola Electric's stock also rose 6.18% before releasing its own quarterly figures.
Conversely, MapmyIndia experienced the most significant decline, with its stock falling 14.17%* after reporting muted Q1 earnings. ixigo also saw its shares drop 11.07% following its earnings announcement.
Overall, 37 out of 59 listed new-age tech companies finished the week in positive territory. The week also saw a new listing, edtech Klassroom, whose shares debuted with a 7% premium on the BSE SME platform.