Indian Tech Stocks Split As MapmyIndia Rises And Ola Electric Falls

Indian new-age tech stocks split during the week, with 29 of 57 companies gaining between 0.24% and more than 15%, while 27 declined between 0.37% and 9.11%.

MapmyIndia led the advance, rising 15.38% to ₹1,083.50, while Ola Electric was the biggest loser after three fresh insolvency petitions were filed by vendors over alleged unpaid dues.

Combined market capitalisation of 58 new-age tech companies stood at $134.45 Bn at the end of the week, down from $139.29 Bn a week earlier.

PhysicsWallah rose 13.5% to ₹147.95.

RateGain, Shadowfax, Lenskart, Honasa Consumer, Delhivery, Kissht, Aequs, Nykaa, Ather Energy and Amagi touched fresh highs.

Weekly stock split

Ola Electric fell 9.11% to ₹40.42 after Sterling E-Mobility Solutions, Anevolve Mando eMobility and Seoyon E-Hwa Summit Mobility Krishnagiri filed insolvency pleas.

In an exchange filing, Ola Electric said the Sterling E-Mobility and Anevolve Mando petitions arose from pre-existing disputes already under arbitration.

The company also cited warranty and performance concerns involving parts supplied by the two vendors.

The stock remains 11% higher on a year-to-date basis as Ola Electric seeks to recover market share.

Pine Labs fell 6.86% to ₹145.35, while FirstCry touched an all-time low of ₹202.70 on July 9 and ended the week 3.26% lower at ₹211.95 on the BSE.

Ola Electric and Swiggy

Swiggy’s aggregate foreign investment fell below the 50% threshold, reaching 49.76% of paid-up equity share capital on a fully diluted basis as of July 6, 2026, according to depository data.

The move supported a rally in the stock earlier in the week.

JM Financial said the reduction was a key prerequisite for Indian-Owned-and-Controlled Company status under FEMA, but was not sufficient by itself.

Swiggy would also need governance changes demonstrating that ownership and control rest with resident Indian citizens or entities.

The brokerage said the IOCC test is based on ownership and control at the end of March of the previous fiscal year.

Swiggy’s Toing food-delivery vertical also faced FSSAI scrutiny over licence-particular updates.

Swiggy said the matter involved no food-safety concerns, that it had addressed the observations and that it received a modified licence on July 9.

No monetary penalty was imposed, and the order had no major operational or financial impact.

A day later, FSSAI issued nine notices to Swiggy Instamart after consumer complaints alleging deliveries of expired, spoiled and contaminated food products.

Swiggy shares nevertheless ended the week 10.05% higher at ₹273.10.

Company developments

Fractal group CFO Ashwath Bhat resigned on July 6 for personal reasons.

He will continue to lead the finance function until July 24 while the AI company searches for a replacement.

Dronetech company ideaForge raised ₹500 Cr through a qualified institutional placement to prepay or repay debt, develop new products and fund day-to-day operations.

Nykaa and Honasa Consumer projected near 30% year-on-year top-line growth for Q1 FY27 ahead of the earnings season.

TAC Infosec reported a 137% year-on-year and 34% quarter-on-quarter increase in net profit to ₹8.1 Cr.

Operating revenue rose 102% year on year to ₹19.8 Cr, although the cybersecurity company’s stock has fallen nearly 47% year to date.

Paytm appointed Paytm Money director Venkatesh Srinivasan and Trident Capital founder Sachee Trivedi as non-executive independent directors.

Its general counsel and SVP-legal, Urvashi Sahai, resigned.

Paytm also announced a partnership and minor investment in Indonesian company Flip to expand its merchant base there.

Broader market backdrop

The Sensex fell 0.25% to 77,569.39 and the Nifty 50 declined 0.26% to 24,206.90 amid fresh strikes between the US and Iran.

Geojit research head Vinod Nair said early optimism gave way to risk aversion as tensions in West Asia pushed crude prices higher, though encouraging Q1 updates from the banking and IT sectors helped drive a recovery later in the week.

Foreign portfolio investors invested ₹15,156 Cr in Indian equities during the week.

Geojit chief investment strategist VK Vijayakumar attributed the inflows to improving Indian macroeconomic conditions, rupee stability, weakness in the chip trade and foreign investors selling in markets such as South Korea.

The listed new-age tech group ended the week with its market capitalisation below the previous week’s level.