New-age Tech Stocks Mixed: Nazara Rises, AceVector Falls

India's new-age tech stock market exhibited a mixed performance this week, despite a broader market recovery. Of the 67 new-age tech companies under Inc42's coverage, fewer than half advanced. While 31 stocks saw gains ranging from 0.03% to 17.63%, 36 declined, with losses reaching up to 18.43%.

Snapdeal parent AceVector was the biggest loser, falling 18.43%. Market intelligence platform Tracxn followed with an 8.26% decline. Several companies, including ixigo, EaseMyTrip, Swiggy, and Fractal, touched 52-week lows, while Nazara, Zelio, and E2E Networks hit new 52-week highs.

E2E Networks reported a swing to profit in its second quarter, with operating revenue jumping over 400%. The company also faced fines from stock exchanges for failing to provide timely notification of a board meeting. Meanwhile, the NCLT dismissed an insolvency application against Globalbees, a subsidiary.

Other developments included Fairfax's proposal to transfer its stakes in Go Digit General Insurance and Go Digit Life Insurance to IDBI Bank, and Lenskart facing a customs duty demand. First Games Technology received a reduced GST demand, and BlackBuck restructured its logistics business. Aequs' proposed amalgamation with its subsidiaries was rejected, partly due to insufficient shareholder approval.