Meesho Emerges Biggest Winner In A Mixed Week For New-Age Tech Stocks

It was yet another mixed week for listed new-age tech companies. In line with trends in the broader market, shares of 26 of the 50 new-age tech companies under Inc42’s coverage declined in a range 0.26% to about 20%, while 22 companies gained between 0.04% to over 35%. 

NSE SME-listed Yudiz ended the week flat at INR 28. Meanwhile, Wakefit became the latest addition to Inc42’s listed new-age tech company universe after making a lukewarm debut on the bourses on Monday (December 15).

The company’s shares got listed on the BSE at a slight discount and ended the week at INR 192.80, down 1% from the issue price of INR 195. 

With the addition, the total market cap of 50 new-age tech companies stood at $144.5 Bn.

Buoyed by positive brokerage notes this week, recently listed companies Meesho (up 35.9%), Lenskart (up 15.12%) and Groww (up 10.92%) topped the list of gainers. Ather Energy, Paytm, Honasa Consumer, and MapmyIndia were among the other stocks which rose this week. 

Troubled BSE SME-listed company DroneAcharya was the biggest loser this week, declining 19.19% to end the week at INR 41.30. The company’s shares have been under pressure since the SEBI alleged promoter fraud at the drone tech company in November. In an exchange filing today, the company said that the Securities Appellate Tribunal (SAT) has temporarily stayed the recovery of penalty imposed by SEBI on DroneAcharya and its promoters.

Among the list of losers, shares of Ola Electric, WeWork India, Urban Company and Tracxn touched fresh lows this week. Eternal, Black Buck, PhysicsWallah, BlueStone, and DevX were among the other losers this week.

Now, let’s take a look at some of the key developments at listed new-age tech companies this week.

• Ather has forayed into the auto insurance segment with the incorporation of a new wholly owned subsidiary. The new entity would focus on offering auto insurance policies, in partnership with multiple insurers.  
• MakeMyTrip has received a tax notice from GST authorities in Delhi for INR 7.31 Cr pertaining to input tax credit availed on IPO-related expenses in FY22. 
• Insurtech major Go Digit has amalgamated its two entities – Go Digit General Insurance and Go Digit Infoworks – to simplify group structure and reduce shareholding tiers.
• BlackBuck has invested INR 100 Cr in its NBFC subsidiary Blackbuck Finserve to augment its capital base and meet long-term capital requirements. 
• WeWork India has received a tax order worth INR 15.4 Cr on account of alleged ineligible input tax credit availed in FY22 and unreconciled tax credit for FY23.
• Travel tech major ixigo has expanded into Singapore with the incorporation of a new subsidiary which would lead investment and strategic management initiatives, with an emphasis on fostering its international expansion and strengthening business synergies across key markets.
• FirstCry’s subsidiary Swara Baby Products has expanded into the US with the incorporation of its own subsidiary. Swara would sell diapers and other disposable consumer hygiene products in the US. 
• Fintech major Paytm’s payments subsidiary Paytm Payments Services Ltd (PPSL) has received RBI’s nod to operate as a payment aggregator for offline payments as well as cross-border transactions (both inward and outward).

With that, let’s take a look at the broader market trends this week.

Markets Consolidate Amid Mixed Macros, Currency Volatility 

Indian equity markets ended the week marginally lower amid mixed macroeconomic cues, rupee volatility, and lingering uncertainty over the timing of a potential India-US trade deal. Selling pressure dominated most sessions, though a late rebound on Friday – led by value buying and selective foreign portfolio investor (FPI) inflows – helped limit losses.

The Nifty 50 slipped 0.31% to close the week at 25,966, while the Sensex declined 0.40% to end at 84,929, signalling a consolidation phase after recent volatility rather than a decisive trend reversal.

Investor sentiment was shaped by a combination of domestic macro data, currency movement, and global developments. India’s trade deficit narrowed to a five-month low of $24.53 Bn in November, supported by a rebound in exports and a sharp contraction in imports. Retail inflation edged up to 0.71% from October’s record low of 0.25% but remained well below the RBI’s comfort band, keeping policy support expectations intact. Wholesale inflation stayed negative at -0.32%, though deflationary pressures moderated.

The FPIs turned selective buyers after selling in the early part of the week, providing limited support to benchmarks. The rupee, which briefly went past the 91 mark against the dollar, recovered towards the end of the week, lending some stability to domestic markets.

The coming week will be holiday-shortened due to Christmas, likely keeping volumes subdued. Markets will track infrastructure output data, updates on bank credit and deposit growth, and forex reserve numbers. Currency movement and crude oil prices will remain key variables, while global cues, particularly from the US, will continue to influence sentiment.

With that, let’s take a look at what the week was like for Ola Electric and Meesho. 

Ola Electric Slumps On Founder’s Stake Sale 

Ola Electric’s shares extended their downtrend this week, sliding to fresh all-time lows amid stake sale by founder and CEO Bhavish Aggarwal. 

The stock remained under pressure as Aggarwal offloaded shares worth INR 324.6 Cr via bulk deals over three consecutive trading days. This weighed on investor sentiment despite the company’s clarification that the transactions were part of a one-time promoter-level monetisation to fully repay a loan amounting to INR 260 Cr and release all 3.93% shares previously pledged, thereby eliminating all promoter pledges. 

During the week, the stock touched a record intraday low of INR 30.79 on the BSE. However, it surged nearly 10% on Friday to end the week at INR 34.4. 

Meesho Continues To Rally 

Ecommerce major Meesho continued its extraordinary post-IPO rally this week, cementing its status as one of the standout listings of 2025. 

Meesho’s shares hit the 20% upper circuit during the intraday trading on Wednesday (December 17) after brokerage UBS initiated coverage with a’ Buy’ call and shared a robust growth outlook. 

UBS expects Meesho’s annual transacting user (ATU) base to grow to 51.8 Cr by FY30 from 19.9 Cr at the end of the previous fiscal year. As a result, net merchandise value (NMV) is expected to increase by 30% in the aforementioned period. 

Over the past week, the stock climbed 35.9% to end the week at INR 224.50. The stock is now up more than double from its issue price of INR 111, while the company’s market capitalisation stood at INR 1.01 Lakh Cr (about $11.31 Bn) at the end of the week.

(Edited by: Vinaykumar Rai)