Ather, BlackBuck Shine Amid A Gloomy Week For New-Age Tech Stocks

Amid global trade tensions, the Indian equities markets saw another week of bearish market sentiment. As a result, 24 out of the 36 new-age tech stocks under Inc42’s coverage ended in the red, falling in a range of 0.08% to over 9% this week.

NSE Emerge-listed company Yudiz was the biggest loser this week, with its shares crashing 9.22% to end the week at INR 30.90. On Tuesday (August 5), the company said that the Supreme Court has granted bail to Suraj Chokhani, MD of Ability Games, which holds 50% stake in the company. He was arrested by the ED in March for allegedly laundering the proceeds of crime in the Mahadev betting app case.

EaseMyTrip was the second biggest loser this week, with its shares plunging to an all-time low of INR 9.10 on Thursday (August 7). The stock ended the week at INR 9.12, down 7.22% from the close of previous week. 

Shares of BSE SME-listed Droneacharya continued their losing streak this week. The company, which is yet to disclose its H2 FY25 numbers, saw its shares plunge 6.95% to end at INR 68.87, making it the third biggest loser. 

Notably, the week saw Ather Energy, BlackBuck, RateGain, ArisInfra Solutions, Yatra, MapmyIndia and TBO Tek release their Q1 numbers. Of these, Ather and BlackBuck emerged as the top two gainers this week. While Ather zoomed nearly 23% to INR 426.90, shares of BlackBuck jumped 17% to close the week at INR 522.95. 

Shares of travel-focussed SaaS company RateGain also surged 10% on Friday (August 8) after the company reported a 3.5% YoY increase in its net profit to INR 46.9 Cr in Q1 FY26 a day before. The stock ended the week at INR 473.70, up 9.39% from last week. 

Logistics major Delhivery, which reported its financial numbers for the June quarter on August 1, saw a robust bullish momentum this week. Its shares touched an all-time high of INR 468 on Thursday and closed the week 8.07% higher at INR 464.55. 

Overall, 12 new-age tech stocks ended the week in the green, gaining in a range of 0.04% to close to 23%.

Omnichannel jewellery brand BlueStone, whose public issue will open tomorrow, raised INR 693.3 Cr from anchor investors on Friday. On listing, it would become the 37th new-age tech company under Inc42’s coverage.

The market cap of 36 new-age tech companies stood at $96.31 Bn at the end of this week compared to $96.93 Bn previous week. 

Now, let’s take a look at the performance of the broader market this week. 

Tariff Blues For Indian Equities Market 

While the imposition of 25% import tariff on Indian goods by the US came into effect this week, US president Donald Trump’s announcement of imposition of an additional 25% tariff on the country, which will come into effect at the end of this month, further soured investor sentiment.

As a result, Sensex declined 0.5% to 79,857.79 and Nifty 50 plunged 0.6% to end the week at 24,363.30. The Indian equities markets have been under pressure for the past few months due to Trump’s tariff wars. This was the sixth consecutive week of decline seen by the benchmark indices.

Despite the headwinds, the downside risks were partially cushioned by RBI’s reaffirmation of macroeconomic stability, its optimistic stance on domestic growth, and early signs of easing inflation, according to Vinod Nair, head of research at Geojit Investments. 

“Looking ahead, market volatility is expected to persist. While risks from US trade tensions and sustained FII outflows remain, potential support from DIIs could offer some relief. Upcoming inflation data from both India and the US will be critical in shaping investor expectations,” he added.

Now, let’s take a detailed look at the weekly performance of Ather and BlackBuck.

Ather Narrows Its Loss 

Shares of EV maker Ather zoomed after its Q1 disclosures, touching an all-time high of INR 432.90 on Friday. The stock ended the week at INR 426.90. While this marked a 22.94% uptick from the last week’s close, the company’s shares have surged about 42% year to date. 

Ather reported a 79% YoY increase in its operating revenue to INR 644.6 Cr in the June quarter, fuelled by a near-doubling of vehicle sales to 46,078 units. Meanwhile, net loss narrowed marginally to INR 178.2 Cr from INR 182.9 Cr in Q1 FY25. 

The strong performance was further bolstered by an improvement in gross margin to 23%, driven by a combination of a favourable product mix and a growing contribution from higher-margin non-vehicle revenues like accessories and software subscriptions. 

Brokerage firm HSBC initiated coverage on the stock with a ‘buy’ rating and a price target of INR 450. Meanwhile, Nomura maintained the ‘buy’ rating and raised the price target to INR 458, citing the company’s growth strategy and strategic growth initiatives.

BlackBuck’s Profit Jumps 

After touching an all-time high of INR 572.7 on Thursday, BlackBuck’s shares closed the week at INR 522.95. The company’s Q1 FY26 report, released on August 5, showed a significant turnaround, with its profit rising 17% YoY to INR 33.7 Cr and an over 56% YoY jump in its operating revenue, which stood at INR 143.6 Cr

The robust jump in the company’s financial performance came at the behest of it seeing a 14% YoY jump in the truck operators it served in the quarter on average per month, which grew to 7.8 Lakh. Of this, nearly 3.9 Lakh truck operators subscribed to at least two of the company’s services.

The company’s disclosures on Tuesday triggered a rally for its shares, which sustained throughout the week. On Wednesday, its shares rallied as much as 17.6% to hit a fresh all-time high of INR 569.90 during early trading. 

Amid the rally, BlackBuck investor Wellington Management sold shares worth INR 53.7 Cr via a bulk deal on Friday.

The company’s shares ended the week at INR 522.95, up 17% from last Friday’s close.