Wakefit Surges 17% To Lead New-Age Tech Stocks This Week; Lenskart, Turtlemint Hit New Highs
Wakefit emerged as the top gainer among new-age tech stocks this week, surging 16.69%, while 34 of the 61 stocks with a full week of trading ended in the green.
The gains across more than half of the tracked stocks, even as the benchmark indices declined, point to selective buying driven by company-specific developments and strength in smallcap counters.
Klassroom, Zelio E-Mobility, Turtlemint, and Lenskart touched fresh 52-week highs, while newly listed Shiprocket gained 8.58% over its first three trading sessions.
A majority of India’s new-age tech stocks ended the week in the green, with Wakefit emerging as the biggest gainer after rallying 16.69% during the five trading sessions to close at ₹141.55.
Shares of four companies – Klassroom, Zelio E-Mobility, Turtlemint, and Lenskart – touched fresh 52-week highs during the week.
Overall, 34 of the 61 new-age tech stocks gained between 0.11% and 16.69% during the week. While Wakefit led the pack, logistics tech company LEAP India followed with an 11.75% rise to ₹162.15. The stock had made a muted market debut on August 14 (Friday).
On the other hand, 27 stocks declined between 0.01% and more than 11%. SME-listed Yudiz and TAC Infosec were among the biggest laggards, while AI cloud infrastructure provider E2E Networks fell 9.68% to ₹622 after rallying for more than a month.
Meanwhile, ecommerce enablement platform Shiprocket made a bumper stock market debut this week, taking the number of new-age tech stocks tracked by Inc42 to 62. The stock, which made a strong debut on August 19 (Wednesday), gained 8.58% from its listing price over its first three trading sessions.
Shiprocket’s ₹1,617.5 Cr IPO comprised a fresh issue worth ₹885.5 Cr and an OFS of about ₹732 Cr. Early investor 500 Global clocked a gross return of up to 77.6X on the shares it sold through the OFS.
Together, the 62 new-age tech companies commanded a market capitalisation of $166.84 Bn.
With that, let’s look at some of the key developments that shaped the new-age tech ecosystem this week.
Meesho Faces FIR: Gurugram Police registered an FIR against ecommerce major Meesho and a Surat-based seller over the alleged sale of highly toxic ‘Sulfas’, which was allegedly consumed by a 17-year-old who later died. The complaint was filed by the minor’s mother, Gurugram resident Anuradha Mehra.
IPO Filings Galore: Consumer appliances startup Atomberg filed its DRHP with SEBI for an IPO comprising a fresh issue of up to ₹450 Cr and an OFS of up to 7.65 Cr shares. Manufacturing services unicorn Zetwerk also filed its UDRHP for a ₹2,600 Cr public issue. Meanwhile, online stockbroking platform Upstox reportedly began preliminary discussions with investment banks for a potential $400 Mn IPO.
Kedia Backs Zaggle: Veteran investor Vijay Kedia-led Kedia Securities acquired 20 Lakh shares, or a 1.48% stake, in Zaggle for about ₹32.94 Cr through a bulk deal. The transaction renewed investor interest in the stock, which recovered to end the week 0.65% lower after hitting the 20% lower circuit earlier in the week.
Major Block Deal In Paytm: Vijay Shekhar Sharma-owned Resilient Asset Management offloaded 1.92 Cr shares in Paytm parent One97 Communications through a block deal worth about ₹2,948.9 Cr. Antfin, which retained the economic value of the shares under an optionally convertible debenture agreement with Resilient, will receive the proceeds from the sale.
Y Combinator’s Groww Windfall: Y Combinator sold Groww shares worth ₹1,435.2 Cr through a bulk deal, marking another partial exit from one of its most successful India bets. The accelerator clocked a return of about 55.7X on the shares sold in the transaction.
With that, let’s take a look at the broader market trends this week.
Smallcaps Buck Broader Market Weakness
Indian benchmark indices ended in the red for the second consecutive week amid volatility driven by geopolitical tensions, elevated crude oil prices, and rising global bond yields.
The Nifty 50 declined about 0.47% during the week to close at 24,252, while the Sensex fell nearly 0.60% to settle at 77,540.83.
Ajit Mishra, senior vice president of research at Religare Broking, said geopolitical developments and elevated crude oil prices remained the dominant drivers of market sentiment.
“Ongoing tensions in West Asia continued to raise concerns over potential disruptions to global energy supplies, keeping crude prices elevated. Rising global bond yields also reduced expectations of aggressive monetary easing, prompting a more cautious approach towards risk assets,”Mishra said.
However, the broader market presented a mixed picture. The BSE SmallCap index gained about 1.2% during the week, while the MidCap index declined marginally.
Vinod Nair, head of research at Geojit Investments, attributed the relative strength in smallcap stocks to stronger earnings visibility and their largely domestic-facing nature, even as the frontline benchmarks moved lower.
Looking ahead, Nair said the upcoming US inflation and GDP data would be key indicators for the global interest-rate trajectory.
Against this backdrop, let’s examine the performance of Wakefit and Urban Company, two of the biggest new-age tech stock gainers this week.
Wakefit Leads Weekly Gains
Wakefit ended the week in the green, gaining 16.69% to close at ₹141.55. The rally coincided with the release of the D2C home and furnishings company’s FY26 annual report earlier in the week.
Wakefit reported its highest-ever annual operating revenue of ₹1,488.9 Cr in FY26, up 17% year-on-year. Its operating EBITDA stood at ₹112.3 Cr, while the company posted a net profit of ₹189.2 Cr against a net loss of ₹35 Cr in the previous fiscal year.
Mattresses remained Wakefit’s largest category, contributing 61.4% of its FY26 revenue and growing 17% YoY. Furniture accounted for 29.3% of revenue, while furnishings contributed the remaining 9.3%.
Wakefit also continued to strengthen its direct channels. Its website and company-owned stores accounted for 67.2% of revenue in FY26, up from 57% a year earlier.
As of March 2026, Wakefit operated 139 company-owned and company-operated stores across 76 cities. Its products were also available through 1,948 multi-brand outlets.
In the first quarter of FY27, Wakefit’s profit increased 19% YoY to ₹23.4 Cr and operating revenue increased 17% YoY and 18% QoQ to ₹404.9 Cr. While mattresses brought in 66% of revenue, furniture and furnishings raked in the remaining 34%.
UBS Note Lifts Urban Company
Urban Company gained 9.87% during the week to close at ₹158.60, with investor sentiment receiving a boost after UBS initiated coverage on the home services platform with a ‘Buy’ rating and a target price of ₹180.
The brokerage said India’s online home services market could be approaching its “Blinkit moment”, pointing to the potential for accelerated online adoption.
UBS expects Urban Company’s net transaction value (NTV) to grow at a CAGR of 32% to about ₹10,000 Cr by FY29 from ₹4,300 Cr in FY26. It also expects InstaHelp to reach break-even earlier than the company currently anticipates and believes investors are underestimating Urban Company’s growth opportunity.
Operating revenue rose 43.9% YoY to ₹528.3 Cr during the quarter. Excluding InstaHelp, the company reported an adjusted EBITDA of ₹67 Cr, more than double the year-ago level.
Urban Company’s core India consumer services business also crossed ₹1,000 Cr in quarterly NTV for the first time, while its adjusted EBITDA margin expanded to 6.9%. Its international NTV grew 76% YoY, with its UAE and Singapore operations turning profitable.