New-Age Tech Stocks Mixed: Unicommerce Plunges Amid Q4 Earnings
Infographic: New-Age Tech Stocks Mixed Amid Q4 Earnings, Unicommerce Suffers
Key Highlights
New-age tech stocks show mixed Q4 earnings performance. Unicommerce suffers significant losses, while ideaForge and others reach new highs. Market analysis.
New-age technology stocks saw a varied investor response this past week, influenced by the ongoing fourth-quarter earnings season and escalating tensions in West Asia. Out of 56 new-age tech stocks tracked, 28 saw gains ranging from 0.16% to over 18%, while an equal number experienced declines between 0.12% and nearly 10%.
ideaForge stood out as the week’s top gainer, with its shares climbing 18.4% in anticipation of its Q4 FY26 results. The holiday-shortened week also saw shares of Shadowfax, Ather Energy, Aequs, Groww, Aye Finance, and Honasa Consumer reach new highs. The markets were closed for a day due to Maharashtra Day.
Conversely, Wakefit and Zaggle shares hit all-time lows. Unicommerce emerged as the week’s biggest loser, its stock plummeting 9.84% to ₹92.84 following a muted financial performance report for Q4. Other notable decliners included Eternal, Paytm, Swiggy, and Lenskart. Paytm’s stock faced pressure after the RBI revoked the banking license of Paytm Payments Bank.
The cumulative market capitalization of the 56 new-age tech stocks decreased to $129.67 billion from $131.25 billion the previous week.
In company-specific developments, MobiKwik’s shares rallied after securing an NBFC license from the RBI. Its early investor, Peak XV Partners, fully exited the company by selling its stake via a block deal. ICRA downgraded Ola Electric’s ratings, citing diminishing sales volume and revenue. Fractal Analytics announced an overhaul of its operational model and several leadership changes, including new appointments for AI-related roles. TBO Tek’s COO, Deepak Khanna, resigned, and Fintech’s subsidiary, Paisabazaar, plans to challenge a tax order confirming disallowances of ₹85.6 crore for FY23 and ₹60.31 crore for FY22.
Broader Indian equity markets closed the week with modest gains, though volatility persisted due to mixed domestic and global factors. The and Sensex each increased by approximately 0.5%. Global concerns, including a sharp rise in crude oil prices and geopolitical events in the Strait of Hormuz, contributed to market uncertainty. Domestic economic indicators showed a slowdown in industrial production growth for March.
ideaForge’s shares surged following a non-binding memorandum of understanding with Japan’s Digital Media Professionals to explore the integration of AI technology into its drone platforms for defense and industrial applications. The company also reported a return to profitability in Q4 FY26 with a net profit of ₹59.9 Cr on record revenue of ₹141 Cr. For FY26, its loss narrowed to ₹17 Cr, and revenue grew 40% to ₹226.1 Cr. ideaForge also secured its first US order and trained NATO forces.
Ecommerce SaaS company Unicommerce reported a modest 3% year-on-year rise in Q4 FY26 net profit to ₹3.4 Cr, though profit fell sequentially. Operating revenue grew 14% to ₹51.6 Cr. For FY26, the company posted a 16.5% increase in profit to ₹20.5 Cr and a 51.6% surge in revenue to ₹204.3 Cr. Unicommerce plans significant investments in AI-led product development and acquisitions in the upcoming fiscal year.