Indian Tech Stocks Divided; Zappfresh Hits Record Low

Investor sentiment towards new-age tech stocks in India remained divided this week, even as the broader Indian equity market faced pressure. Out of 64 tracked stocks, 30 gained and 34 declined.

Zappfresh was the week's biggest loser, falling 13.43% to a record low of ₹55.06. The decline followed a report by CARE Ratings flagging deviations in the use of proceeds from the company's IPO.

Other notable decliners included ESDS and Shiprocket. Several other new tech companies, including Go Digit and IndiaMART, also touched fresh 52-week lows.

Conversely, SEDEMAC, Kissht, and Lenskart reached new highs. BlackBuck was the week's top gainer, rising 7.69%. Kissht and MobiKwik were also among the week's gainers.

RentoMojo debuted on the stock market this week and closed 6.9% above its listing price, which was nearly 19% above its IPO price.