Ather Jumps 17% To Lead Weekly Rally In New-Age Tech Stocks, MapmyIndia Biggest Loser

Ather Energy surged 17.45% to top the weekly gainers, while MapmyIndia emerged as the biggest laggard after its Q1 FY27 earnings.

Investor sentiment remained upbeat amid strong Q1 earnings, sustained FII buying, and a flurry of IPO and corporate developments across the startup ecosystem.

Thirty seven of the 59 listed new-age tech companies ended the week in the green, Klassroom debuted on the stock market, and LEAP India opened its ₹2,480 Cr IPO for subscription.

With the Q1 earnings season in full swing, investors actively traded new-age tech stocks based on the latest financial disclosures, with 37 of the 59 listed new-age tech companies ending the week in the green. 

The gainers saw their shares rise between 0.16% and 17.45%, with Ather Energy emerging as the week’s top performer. The stock rallied every session after the electric two-wheeler maker reported a strong Q1 FY27 performance on August 3 (Monday), ending the week at ₹1,480.80. It also hit a record high of ₹1,507.30 on August 6 (Thursday). 

Investors turned bullish on Capillary Technologies (up 12.68%) and Urban Company (up 11.17%) following their quarterly earnings, while Ola Electric gained 6.18% during the week before releasing its Q1 numbers after market hours yesterday. 

Meanwhile, shares of RateGain, Lenskart, WeWork India, Nykaa, BlueStone, Amagi, and Shadowfax touched fresh 52-week highs during the week. 

On the other hand, 21 new-age tech stocks declined between 0.3% and 14.17% during the week. Following its muted Q1 FY27 earnings, MapmyIndia emerged as the week’s biggest loser.

ixigo also fell 11.07% to close at ₹175.60, witnessing a sharp decline yesterday following its Q1 earnings a day before.

Meanwhile, edtech Klassroom became the latest new-age tech company to list on the public markets. Its shares debuted at a 7% premium on the BSE SME platform before ending the first trading session 1.91% below the listing price of ₹170. 

With the addition of Klassroom to our coverage, the combined market capitalisation of 60 listed new-age tech companies stood at $151.98 Bn at the end of the week. Excluding Klassroom, the combined market capitalisation of the 59 companies stood at $151.96 Bn, up nearly 11% from $136.91 Bn a week earlier. 

Here’s a look at the key financial disclosures and other significant developments from the week: 

Indian equity markets extended their gains this week as sustained buying by foreign institutional investors (FIIs) and domestic institutional investors (DIIs), resilient corporate earnings, and easing geopolitical tensions supported investor sentiment. 

The Sensex rose 0.52% to close at 78,499.17, while the Nifty50 gained 0.77% to settle at 24,570.65.

The rollout of the NSE’s new closing auction session (CAS) framework for F&O stocks triggered heightened volatility during the initial trading sessions. However, markets stabilised as participants adapted to the revised framework.

Meanwhile, the RBI’s decision to keep the repo rate unchanged at 5.25% while retaining its neutral stance also buoyed sentiment. The central bank raised its FY27 GDP growth forecast to 6.7% and lowered its inflation projection to 5%. 

FII buying remained supportive, with foreign investors recording net purchases of ₹29,110 Cr during the week, according to provisional exchange data. DIIs also remained active buyers, recording net inflows of ₹77,680 Cr across four of the five trading sessions. 

“Sentiment improved meaningfully with the sharp decline in crude oil prices, which helped strengthen the macroeconomic outlook and supported expectations of easing inflationary pressures,” said Vinod Nair, head of research at Geojit Investments. 

Among sectors, metals, automobiles and IT witnessed selective buying, while realty and financial stocks remained under pressure. Smallcap stocks continued to outperform, with Nair attributing the broader market strength to robust earnings and stock-specific catalysts. 

Looking ahead, investors will track July CPI and WPI inflation data, foreign exchange reserves and the ongoing Q1 FY27 earnings season. Globally, crude oil prices, US labour market, and inflation data, and developments around the Strait of Hormuz will remain key triggers. 

Now, let’s take a look at the performance of the week’s top gainer Ather Energy and biggest loser MapmyIndia.

Ather’s shares surged 17.45% this week to hit a record high after the electric two-wheeler maker reported a sharp improvement in its Q1 FY27 performance, prompting multiple brokerages to turn bullish on its growth and profitability outlook. 

The company narrowed its consolidated net loss 71% YoY to ₹51.1 Cr in Q1 FY27, while operating revenue jumped 89% to ₹1,216.9 Cr. Ather also turned EBITDA positive for the first time, reporting an EBITDA of ₹9 Cr against an EBITDA loss of ₹106 Cr in the year-ago quarter. Its EBITDA margin improved to 1% from -16%. 

The improvement was driven by strong vehicle volumes, calibrated price hikes and higher contributions from higher-margin businesses such as software subscriptions, charging services, accessories and after-sales services. Ather delivered 83,173 scooters during the quarter, up 81% YoY, with the management saying demand continued to outpace production capacity. 

Following the results, CLSA retained its ‘Outperform’ rating on the stock with a target price of ₹1,600. HSBC and Nomura also maintained their ‘Buy’ ratings, with target prices of ₹1,450 and ₹1,714, respectively.

The brokerages cited margin expansion, additional manufacturing capacity and upcoming product launches as key growth drivers. 

Ather’s Factory 3.0 at AURIC is expected to commence production in Q3 FY27, adding an annual manufacturing capacity of 5 Lakh units. The company is also set to unveil its first production scooter based on its next-generation EL platform on August 29. 

MapmyIndia’s shares tumbled 14.17% this week after the geospatial technology company reported a muted Q1 FY27 performance, prompting JM Financial to downgrade the stock over concerns around near-term growth and margin visibility. 

The stock ended the week at ₹1,014.30 on the BSE. JM Financial downgraded the stock to ‘Reduce’, citing a weak start to FY27 and limited visibility into the company’s core map-led business. 

MapmyIndia reported a 6.3% YoY increase in consolidated net profit to ₹50.4 Cr, while operating revenue rose 14.9% YoY to ₹139.7 Cr in Q1 FY27. However, revenue declined 3.6% sequentially and EBITDA remained largely flat at ₹56.1 Cr. 

EBITDA margin narrowed to 40.2% from 45.9% a year earlier, partly due to a ₹4 Cr write-off of a government receivable and a higher contribution from lower-margin IoT hardware. Excluding the write-off, the company said EBITDA margin would have exceeded 43%. 

During the quarter, MapmyIndia’s automotive business posted 29% YoY revenue growth, while enterprise revenue grew 6%. Meanwhile, revenue from its IoT-led business surged 75% YoY to ₹41.1 Cr, although the higher share of hardware sales weighed on margins. 

JM Financial cut its FY27-FY29 revenue estimates by 4% to 5% and EBITDA margin estimates by 227 to 280 basis points. However, it raised its target price on the stock to ₹1,040 from ₹870. 

Despite the near-term headwinds, the company ended the quarter with an order book of about ₹1,750 Cr and continues to see growth opportunities across its automotive, enterprise, defence and government businesses.

Source: Inc42 - Startups