A naukri.com initiative
Inc42
2w
275
Image Credit: Inc42
Mixed Week For New-Age Tech Stocks Amid Trump’s Tariff War, Paytm & Zomato Among Gainers
- The global equities market saw trillions of dollars of wealth being wiped out this week due to US president Donald Trump's announcement of tariffs on imports from almost all countries.
- Indian stock markets crashed over 2.5% amidst the turmoil, but it was not entirely gloomy for new-age tech stocks covered by Inc42.
- 16 out of 32 new-age tech stocks gained this week, with the overall market cap reaching $74.75 billion.
- Veefin Solutions emerged as the top gainer, rising 18.07% after onboarding public sector banks for its supply chain finance platform.
- Paytm's shares surged 4.19% to cross the $6 billion market cap mark, with various business developments enhancing its position.
- On the contrary, MobiKwik saw a 6.89% decline in shares and ended the week 36% lower than its listing price.
- The week witnessed a bloodbath in stock markets globally post-Trump's tariff announcements, with major indices like Sensex and Nifty declining significantly.
- Investors are cautious about the impact of these tariffs and are closely watching retaliatory measures by other countries against the US.
- Zomato had a good week, gaining 4.54% in shares and seeing positive developments such as brokerage firm ratings and dismissal of an insolvency plea.
- Ola Electric, despite ongoing initiatives, faced a decline with shares down 1% as regulatory hurdles continue, affecting its operations in Maharashtra.
Read Full Article
16 Likes
For uninterrupted reading, download the app