ESDS Soars 92% To Lead New-Age Tech Stocks This Week, MDR Hopes Lift Fintechs
by Akshit Pushkarna · Inc42SUMMARY
- ESDS Software surged 91.7% this week, while fintech stocks such as Pine Labs and Paytm rallied on hopes of MDR being introduced on certain UPI transactions.
- The gains reflected investor appetite for AI infrastructure and fintech monetisation plays even as the broader markets declined for the fifth consecutive week.
- Of the 63 listed new-age tech stocks under Inc42’s coverage till last week, 33 declined and 30 ended in the green.
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New-age tech stocks delivered a mixed performance this week as weakness in the broader equity market kept investor sentiment cautious.
Of the 63 listed new-age tech stocks under Inc42’s coverage till last week, 33 declined between 0.01% and nearly 14% this week. Thirty stocks ended in the green.
Pernia’s Pop-Up Shop parent Purple Style Labs became the 64th new-age tech company under Inc42’s coverage after making its stock market debut on Monday (September 7). The stock listed at a discount of about 6% on the BSE but recovered during the week to close at ₹570.15, around 0.8% below its IPO price of ₹575
Following the addition of Purple Style Labs, the combined market capitalisation of the 64 new-age tech companies under Inc42’s coverage stood at $171.6 Bn at the end of the week. The 63 companies covered by Inc42 at the end of the previous week had a combined market capitalisation of $170.5 Bn.
NSE SME-listed Yudiz Solutions led the losers for the second consecutive week, falling 13.91% to ₹22.60. It was followed by recently listed logistics company LEAP India, which declined 9.23% to ₹144.55.