A naukri.com initiative
Inc42
2d
359
Image Credit: Inc42
Honasa, Delhivery Gain Big Amid A Mixed Week For New-Age Tech Stocks
- Indian equity market saw consolidation this week after a strong performance last week, with new-age tech stocks experiencing mixed results.
- Honasa Consumer and Delhivery emerged as the top gainers, with Honasa's shares surging by 26.2% and Delhivery's gaining 10.39%.
- Go Digit, TBO Tek, and Nazara Technologies were among the other stocks that saw significant gains this week.
- On the losing side, companies like Veefin Solutions, EaseMyTrip, and MobiKwik witnessed declines in their stock prices.
- Foreign institutional investors withdrew INR 11,591 Cr from the Indian market, leading to cautious investor sentiment amid global uncertainties.
- Sensex and Nifty 50 dipped 0.7% each, influenced by concerns over US-China tensions and global bond market instability.
- Honasa reported a decline in net profit but surpassed revenue estimates, leading to a surge in its stock price.
- Delhivery posted its first profitable fiscal year, reporting a net profit of INR 162.1 Cr in FY25, and saw its market cap increase to $3.11 Bn.
- Delhivery's B2C segment faced challenges in growth, but Emkay maintained a 'Buy' rating for the stock with optimism about its future prospects.
- CEO and MD Sahil Barua highlighted Delhivery's profitability amidst competitors' losses and emphasized the importance of sustainability in the logistics business.
Read Full Article
21 Likes
For uninterrupted reading, download the app