Indian tech startups faced significant losses this week as broader macroeconomic challenges weighed down the markets. The Sensex and Nifty 50 closed with a 2.9% decline, reflecting the impact of escalating tensions in the Gulf and the Middle East.
Among the 54 new-age tech companies tracked by Inc42, 13 saw their shares hit fresh lows, with 43 others experiencing declines ranging from 0.09% to over 13% between March 2 and 6. Notably, EaseMyTrip saw its shares plummet by 13.23% during this period.
This downward trend extended to other prominent startups such as WeWork India, MobiKwik, Swiggy, and Urban Company, contributing to a collective $7 Bn loss in market capitalization for new-age tech stocks by the end of the week.
Amidst these market challenges, some startups faced individual hurdles. Meesho received a substantial tax demand notice, while Fractal Analytics reported a 9% YoY increase in net profit for Q3 FY26.
Source: Inc42 Media