MobiKwik, PhysicsWallah lead rebound in new-age tech stocks
New-age tech stocks in India rose sharply this week, with MobiKwik surging 25% and PhysicsWallah climbing 20%, according to Inc42. The gains came as broader benchmark indices ended an eight-week losing streak, despite a midweek sell-off.
MobiKwik, a fintech platform, and PhysicsWallah, an edtech startup, led the rebound among publicly listed new-age companies. The uptick follows a prolonged downturn for the sector, including insurtech firm Turtlemint’s 20% slide earlier this month, as StartupReader previously reported.
The rally may signal a temporary shift in sentiment, though the durability of the recovery is unclear. Both companies have faced pressure from broader market conditions and sector-specific challenges. MobiKwik has encountered questions about its long-term profitability, while PhysicsWallah’s valuation has been tested by competition in India’s edtech space.
Investors will be watching whether the gains hold or prove short-lived, particularly as macroeconomic uncertainties persist. The broader question remains whether this week’s rebound marks a turning point or another false start for the sector.
Sources: inc42.com
“The rally in Indian new-age tech stocks suggests a potential shift in investor sentiment after months of declines, though sustainability remains uncertain.”
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