{"id":79679,"date":"2026-02-07T09:44:25","date_gmt":"2026-02-07T12:44:25","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/890285737"},"modified":"2026-02-07T09:44:25","modified_gmt":"2026-02-07T12:44:25","slug":"nykaa-ather-soar-amid-another-mixed-week-for-new-age-tech-stocks","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/07\/nykaa-ather-soar-amid-another-mixed-week-for-new-age-tech-stocks\/","title":{"rendered":"Nykaa, Ather Soar Amid Another Mixed Week For New-Age Tech Stocks"},"content":{"rendered":"<div class=\"content-wrapper\">\n<div class=\"single-post-summary\"> <span>SUMMARY<\/span> <\/p>\n<p>Of the 52 listed new-age tech companies under Inc42&#8217;s coverage, shares of 26 gained in a range of 0.2% to over 31% this week<\/p>\n<p>Amid the ongoing Q3 earnings season, the movement in most of the new-age tech stocks was influenced by the reported numbers<\/p>\n<p>Shares of nine companies &#8211; Aequs, IndiQube, Ola Electric, BlueStone, MapmyIndia, Awfis, Tracxn, Meesho and ArisInfra &#8211; touched fresh lows this week<\/p>\n<\/p><\/div>\n<p>  .google-icon { align-items: center; display: flex;<br \/>\n} .site-inc42-plus .social-media-icons li .inc42-toggle-item-popup img{ filter: none; } .site-inc42-plus .social-media-layout { border-radius: 8px; background: #202027; border: none; } .site-inc42-plus .social-media-icons ul li{ background: #2C2C2C; } .site-inc42-plus .saved-post-btn svg path { stroke: #fff; } .site-inc42-plus .saved-post-btn.unfollow-item svg path { fill: #fff; } .saved-post-btn.unfollow-item svg path { fill: #000; } .site-inc42-plus .social-media-icons { border-left: 1px solid #0D0D0D; } .site-inc42-plus .social-media-modal-content li{ background: #4B4B4B; } .site-inc42-plus .social-media-modal-content { background: #202027; padding: 20px 16px 28px; } .site-inc42-plus .social-media-news ul li { border-radius: 6px; border: 1px solid #CACACA; background: #000; } .site-inc42-plus .social-media-news ul li a{ color: #fff !important; } .site-inc42-plus .social-media-icons li img, .site-inc42-plus .social-media-modal-content li img { filter: invert(); } .social-media-layout { border-radius: 8px; border: 1px solid #E6E6E6; background: #FFF; margin-bottom: 16px; height: 63px; } \/* .saved-item svg path { fill: #000; } *\/ .social-media-news { padding: 13px 10px; } .social-media-icons { padding: 13px 10px; border-left: 1px solid #E6E6E6; } .social-media-news ul li { width: 132px; height: 37px; border-radius: 6px; border: 1px solid #CACACA; background: #FFF; margin-right: 8px; } .social-media-news ul li span { margin-top: 2px; margin-left: 4px; } .divAlign { display: flex; justify-content: space-between; align-items: center; } .social-media-icons li{ border-radius: 6px; background: #E8E8E8; width: 37px; height: 37px; margin-right: 8px; } .social-media-icons li:last-child, .social-media-news ul li:last-child{ margin-right: 0; } .social-media-icons li img { height: 20px; width: 20px !important; border-radius: 0 !important; } .social-media-layout li a{ color: #030303 !important; font-size: 12px; font-style: normal; font-weight: 600; line-height: 18.2px; } .social-media-icons ul li a, .social-media-layout li button{ width: 100%; height: 100%; display: flex; text-align: center; align-items: center; justify-content: center; } .social-media-icons ul li:nth-last-child(-n+2){ margin-right: 0; } .social-media-news ul li a{ padding: 0px 11px; height: 100%; display: flex; justify-content: center; align-items: center; } .social-media-news ul li img{ width: 20px !important; height: 20px; margin-right: 5px; border-radius: 0 !important; object-fit: cover; } .display-mobile-view { display: none; } @media (max-width: 767px) { .toggle-items-content-main { left: 0 !important; width: 100% !important; height: 122px; } \/* .toggle-items-content .items-content-text h4{ font-size: 16px; } *\/ .saved-post-main .inc42-toggle-item-popup{ width: 100%; left: 0; position: absolute; } .inc42-toggle-item-popup .CustomIconStyled { right: 155px; } .toggle-items-content{ padding-top: 30px; } .saved-post-main .inc42-toggle-item-popup .CustomIconStyled { right: 18px; } .display-mobile-view { display: block !important; } .social-media-icons ul li { display: none; } .social-media-icons ul .saved-post-btn { display: block; } .social-media-news ul li{ width: 96px; height: 30px; } .social-media-news ul li span { margin-left: 0px; } .social-media-layout{ height: 51px; } .social-media-news , .social-media-icons{ padding: 10px; } .single-post-summary span{ font-size: 16px; line-height: 23.4px; margin-bottom: 10px; } .social-media-layout li a{ font-size: 10px !important; line-height: 14.2px !important; } .social-media-news ul li a { padding: 0px 5px; } .social-media-icons li{ width: 32px; height: 30px; } } .saved-post-btn{ background: transparent; text-transform: inherit; padding: 0px; font-style: normal; font-weight: 600; height: 100%; width: 100%; font-size: 16px; line-height: 18px; -webkit-box-align: center; -ms-flex-align: center; align-items: center; color: #333333;<br \/>\n}<br \/>\n.saved-post-main ul li { display: block;<br \/>\n}<\/p>\n<div class=\"single-post-content\">\n<p><span>Indian equities markets rallied this week following the announcement of an interim India-US trade deal. However, new-age tech stocks saw another mixed week on the bourses.&nbsp;<\/span><\/p>\n<p><span>Of the 52 listed new-age tech companies under Inc42\u2019s coverage, shares of 26 gained in a range of 0.2% to over 31% this week. While TAC Infosec ended the week flat, shares of 25 companies declined in a range of 0.12% to over 23%.&nbsp;<\/span><\/p>\n<p><span>The total market capitalisation of the 52 new-age tech companies stood at $133.25 Bn at the end of the week, up $3 Bn from last week.&nbsp;<\/span><\/p>\n<p><img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-548061\" fifu-data-src=\"https:\/\/i2.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/GRAPH-1-100-2-scaled.jpg?ssl=1\" alt width=\"661\" height=\"2560\"><\/p>\n<p><span>Amid the ongoing Q3 earnings season, the movement in most of the new-age tech stocks was influenced by the reported numbers. For instance, shares of Delhivery rose 3.15% after the company reported a 59% YoY jump in its PAT to \u20b939.6 Cr on January 31 (Saturday).&nbsp;<\/span><\/p>\n<p><span>Shares of Ather surged 13.6% this week after the company<\/span><a href=\"https:\/\/inc42.com\/buzz\/ather-q3-loss-narrows-57-to-inr-85-cr-revenue-up-50\/\"><span> posted a <\/span><span>57% YoY decline in its net loss<\/span><\/a><span> to \u20b984.6 Cr in Q3 FY26, while ArisInfra was the biggest loser this week. Shares of nine companies \u2013 Aequs, IndiQube, Ola Electric, BlueStone, MapmyIndia, Awfis, Tracxn, Meesho and ArisInfra \u2013 touched fresh lows this week<\/span><\/p>\n<p><span>This week, eight companies \u2013 Nykaa, PB Fintech, PhysicsWallah, Ather, Awfis, MobiKwik, Capillary Technologies and BlackBuck \u2013 disclosed their results. Here\u2019s a glimpse at the performance of the aforementioned companies in the December 2025 quarter.<\/span><\/p>\n<p><img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" loading=\"lazy\" class=\"aligncenter size-full wp-image-548058\" fifu-data-src=\"https:\/\/i0.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/6-feb.jpg?ssl=1\" alt width=\"1200\" height=\"1235\"><\/p>\n<p><span>With that, let\u2019s take a look at some of the key developments beyond financials at the new-age tech companies this week:<\/span><\/p>\n<ul>\n<li><span>NBFC Aye Finance and AI major Fractal Analytics filed their respective RHPs this week. The IPOs of both the companies will open on February (Monday).<\/span><\/li>\n<li><span>Expanding beyond meat delivery, Zappfresh forayed into the frozen vegetarian snacks category, under the brand name Meevaa Foods. It intends to invest \u20b910 Cr to expand this business.&nbsp;<\/span><\/li>\n<li><span>Besides announcing its results this week, PhysicsWallah announced \u20b91.5 Cr investment to acquire a 50% stake in Kay Wellness. Its board also approved acquisition of non-profit Nextseed Foundation for \u20b91 Lakh and the incorporation of a new subsidiary, PhysicsWallah Student Housing, with paid-up capital of \u20b91 Lakh.<\/span><\/li>\n<li><span>Paytm will settle its FEMA-related issues with the RBI by paying a fine of \u20b923.1 Lakh. The case is linked to its 2017 acquisitions of Little Internet and Nearbuy.<\/span><\/li>\n<li><span>The week\u2019s top gainer, Yudiz Solutions, sought shareholder approval via postal ballot to amend its MoA to enter payment gateway, payment aggregation and fund transfer services segments, subject to regulatory approvals, including clearance from the RBI.<\/span><\/li>\n<li><span>The GST department upheld a \u20b937.33 Cr tax demand against Pine Labs for FY20, linked to unpaid GST arising from its Qwikcilver acquisition. The fintech firm said the order will have no immediate material impact and it plans to file an appeal before CESTAT.<\/span><\/li>\n<li><span>Days after informing about his decision to move on from the executive role at Eternal, Deepinder Goyal formally tendered his resignation from the post of MD and CEO. \u201cI am writing to formally tender my resignation as Director, MD &amp; CEO of the Company, along with various committees I am a part of, effective from the close of business hours on February 1, 2026,\u201d he said.<\/span><\/li>\n<li><span>Besides Goyal\u2019s exit, Eternal informed that it received another tax notice from authorities in Uttar Pradesh for \u20b91.75 Cr. The company also said that it has officially dissolved its operations in the Netherlands.<\/span><\/li>\n<li><span>BlueStone invested \u20b925.2 Cr in its lab-grown diamonds subsidiary Ethereal Diamonds. The company informed of this move alongside disclosing its financial performance for Q3 on January 22.&nbsp;<\/span><\/li>\n<li><span>Gaming major Nazara received a tax demand and penalty of \u20b95.68 Cr from tax authorities in Maharashtra. The order pertains to a case of non-receipt of export proceeds within the stipulated time period for FY18 and FY19.<\/span><\/li>\n<\/ul>\n<p><img data-opt-id=758893364  decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" loading=\"lazy\" class=\"aligncenter size-full wp-image-548059\" fifu-data-src=\"https:\/\/i3.wp.com\/inc42.com\/cdn-cgi\/image\/quality=90\/https:\/\/asset.inc42.com\/2026\/02\/Table-copy-100-2-scaled.jpg?ssl=1\" alt width=\"505\" height=\"2560\"><\/p>\n<p><span>With that, let\u2019s take a look at the key factors that drove the broader market bull run this week.&nbsp;<\/span><\/p>\n<h2><b>India-US Trade Deal Uplifts Sentiment<\/b><\/h2>\n<p><span>Benchmark indices Sensex and Nifty 50 gained 1.6% and 1.5% to end the week at 83,580.40 and 25,693.70, respectively, following the announcement of the interim India-US trade deal.<\/span><\/p>\n<div class=\"code-block code-block-55\">\n<p>.single-glossary .code-block.code-block-55{ display:none;<br \/>\n}<br \/>\n.code-block.code-block-55 { background: rgba(255, 242, 240, 1); 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font-size: 8px !important; font-weight: 400; border-radius: 4px; font-weight: 400; font-style: normal; font-family: noto sans, sans-serif; color: #fff; letter-spacing: 0; height: auto !important;<br \/>\n}<br \/>\n.code-block.code-block-55 .tagged { margin: 0 0 -4px; line-height: 22px; padding: 0;<br \/>\n}<br \/>\n.code-block.code-block-55 a.sponsor-tag-v2 { margin: 0;<br \/>\n}<br \/>\n}<\/p>\n<div class=\"large-12 medium-12 small-12\">\n<div class=\"recomended-title\">RECOMMENDED FOR yOU<\/div>\n<\/p><\/div>\n<\/div>\n<p><span>The week got off to a slow start following the announcement of the <a href=\"https:\/\/inc42.com\/tag\/union-budget-2026\/\">Union Budget on February 1<\/a> (Sunday). The increase in STT on F&amp;O trade, alongside an expanded government borrowing program, hit investor sentiment.&nbsp;<\/span><\/p>\n<p><span>However, the announcement of the India-US trade agreement on February 2 (Monday) triggered a bull run. The agreement, which features a 18% tariff on Indian exports to the US and minimal tariff on US imports, supported a sharp rebound in equities.&nbsp;<\/span><\/p>\n<p><span>But the launch of Anthropic\u2019s new AI automation tools kept the momentum in check. The global tech giant launched new AI tools, including Claude Cowork and Claude Code, which automate complex, multi-step business tasks. This led to fears of <a href=\"https:\/\/inc42.com\/buzz\/anthropic-saaspocalypse-and-the-indian-it-sell-off\/\">disruption in the Indian IT services sector<\/a>, causing the Nifty IT index to plunge nearly 6% and erasing over \u20b92 Lakh Cr in investor wealth.<\/span><\/p>\n<blockquote>\n<p><span>\u201cThe rebound remained capped by persistent weakness in IT stocks, driven by concerns over moderating demand for traditional outsourcing services following Anthropic\u2019s introduction of next\u2011generation AI\u2011powered automation tools. Investor attention also shifted to the finer details of the trade agreement, prompting a phase of short\u2011term consolidation as markets awaited clearer insights,\u201d said Vinod Nair, head of research at Geojit Investments.&nbsp;<\/span><\/p>\n<\/blockquote>\n<p><span>Later in the week, the RBI\u2019s repo rate announcement yesterday supported market mood. The RBI kept policy rates unchanged and raised FY26 GDP growth forecast to 7.4%. It announced steps to deepen bond markets, eased VRR limits, allowed bank lending to REITs, proposed NBFC norm relaxations, and launched Mission SAKSHAM for urban cooperative banks.<\/span><\/p>\n<p><span>\u201cThe RBI\u2019s policy underscores confidence in India\u2019s domestic growth momentum while maintaining vigilance on inflation and global uncertainties. The continued focus on market deepening and credit availability is structurally positive for financial markets,\u201d Bajaj Broking said.&nbsp;<\/span><\/p>\n<p><span>Now, let\u2019s take a look at the performance of PB Fintech and Nykaa this week.&nbsp;<\/span><\/p>\n<h2><b>Investors Cheer Nykaa\u2019s Sustained Execution&nbsp;<\/b><\/h2>\n<p><span>Shares of Nykaa rallied on the bourses this week as investors cheered the beauty and personal care (BPC) major\u2019s strong Q3 FY26 performance. The stock ended the week 16.65% higher at \u20b9277.05.&nbsp;<\/span><\/p>\n<p><span>On February 5 (Thursday), Nykaa reported a 156% YoY jump in consolidated profit after tax to \u20b967.7 Cr, aided by robust revenue growth and margin expansion. Operating revenue rose 27% YoY to \u20b92,873.3 Cr, while EBITDA surged 63% to \u20b9230 Cr, with margins expanding to 8% from 6.2% a year earlier.&nbsp;<\/span><\/p>\n<blockquote>\n<p><span>The BPC vertical remained the core growth engine, with profit rising 56% YoY to \u20b9156.6 Cr and revenue growing 27% to \u20b92,622.4 Cr. GMV of the segment increased 27% to \u20b94,302 Cr, while the customer base expanded 30% YoY to 4.2 Cr.<\/span><\/p>\n<\/blockquote>\n<p><span>Nykaa Fashion also showed signs of increasing operating leverage, narrowing loss 20% YoY to \u20b920.3 Cr as revenue grew 18%. Fashion GMV climbed 31% YoY to \u20b91,476 Cr, while EBITDA margin improved to negative 2% from negative 5.3% last year. The company\u2019s management highlighted deeper, full-stack brand partnerships \u2013 such as the recent tie-up with Nike \u2013 as a scalable template to strengthen the fashion business while remaining disciplined on margins.<\/span><\/p>\n<blockquote>\n<p><span>Brokerage JM Financial said Nykaa\u2019s Q3 performance reflected a sustained execution story meeting an improved demand environment, resulting in \u201crampant margin expansion\u201d.&nbsp;<\/span><\/p>\n<\/blockquote>\n<p><span>It highlighted strong NSV growth across BPC and fashion and improving EBITDA across segments. JM Financial expects Nykaa\u2019s BPC segment to deliver around 35% EBITDA CAGR over FY26-30. Reiterating a \u2018BUY\u2019 rating, it set March 2027 target price at \u20b9325, calling Nykaa one of the cleanest compounding stories in India\u2019s internet sector.<\/span><\/p>\n<h2><b>A Tumultuous Week For PB Fintech<\/b><\/h2>\n<p><span>PB Fintech witnessed a volatile week on the bourses as strong Q3 FY26 earnings collided with uncertainty around a proposed qualified institutional placement (QIP). Shares of the company ended the week 9.05% lower at \u20b91,503.15.&nbsp;<\/span><\/p>\n<p><span>The Policybazaar parent reported a stellar December quarter, with <a href=\"https:\/\/inc42.com\/buzz\/pb-fintech-q3-net-profit-zooms-2-6x-yoy-to-inr-189-cr\/\">consolidated net profit surging 165% YoY to \u20b9189.4 Cr<\/a>, while revenue grew 37% to \u20b91,771.1 Cr. EBITDA jumped 4.7X to \u20b9159 Cr and adjusted EBITDA margin expanded to 11% from 6% a year ago.&nbsp;<\/span><\/p>\n<p><span>Insurance broking revenue rose 40% YoY to \u20b91,537.5 Cr, while total insurance premium collected climbed 45% to \u20b97,965 Cr. Paisabazaar-led credit disbursals also remained strong, rising 84% YoY to \u20b99,986 Cr.<\/span><\/p>\n<p><span>However, the upbeat numbers were overshadowed by the company\u2019s disclosure that its board would consider a QIP to fund inorganic growth and international expansion, despite the company sitting on a cash pile exceeding \u20b95,000 Cr. The announcement spooked investors, with shares falling over 13% across two sessions.&nbsp;<\/span><\/p>\n<blockquote>\n<p><span>JM Financial flagged concerns that a QIP at this stage could introduce volatility, given that management bandwidth is already stretched with its healthcare foray. It noted that a potential 5\u20136% dilution would only make sense if any acquisition were meaningfully EPS-accretive and struck at a valuation discount.<\/span><\/p>\n<\/blockquote>\n<p><span>Sentiment briefly turned positive after PB Fintech cancelled its board meeting to discuss the QIP, sparking a 7% rally as investors interpreted the move as a possible rollback of dilution plans.&nbsp;<\/span><\/p>\n<p><span>The company later clarified that it has dropped plans to raise funds via a QIP altogether, dismissing reports of a $1 Bn raise as \u201cfactually untrue\u201d.<br \/><\/span><\/p>\n<p><em><strong>Edited by: Vinaykumar Rai<\/strong><\/em><\/p>\n<div class=\"code-block code-block-47\">\n<p>.entry-footer-banner iframe { width: 100%; }<\/p>\n<\/div>\n<div class=\"code-block code-block-81\">\n<!-- Desktop In-Line Newsletter Optin v3 --><\/p>\n<div id=\"om-xcxdk8bdjlpxkbshn7d9-holder\">  (function(d,u,ac){var s=d.createElement(&#8216;script&#8217;);s.type=&#8217;text\/javascript&#8217;;s.src=&#8217;https:\/\/a.omappapi.com\/app\/js\/api.min.js&#8217;;s.async=true;s.dataset.user=u;s.dataset.account=ac;d.getElementsByTagName(&#8216;head&#8217;)[0].appendChild(s);})(document,18408,4362);\n <\/div>\n<p> <!-- Mobile In-Line Newsletter Optin v3 --><\/p>\n<div id=\"om-bgdjf8slv1fctnpl2ulj-holder\">  (function(d,u,ac){var s=d.createElement(&#8216;script&#8217;);s.type=&#8217;text\/javascript&#8217;;s.src=&#8217;https:\/\/a.omappapi.com\/app\/js\/api.min.js&#8217;;s.async=true;s.dataset.user=u;s.dataset.account=ac;d.getElementsByTagName(&#8216;head&#8217;)[0].appendChild(s);})(document,18408,4362);  <\/div>\n<\/div>\n<p> <!-- CONTENT END 1 --> <\/div>\n<\/p><\/div>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\"> <\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\"> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230; trade deal. However, new-age <span class=\"match\">tech<\/span> stocks saw another mixed week &#8230; the 52 listed new-age <span class=\"match\">tech<\/span> companies under Inc42\u00e2\u0080\u0099s coverage &#8230; financials at the new-age <span class=\"match\">tech<\/span> companies this week: NBFC Aye &#8230; momentum in check. The global <span class=\"match\">tech<\/span> giant launched new AI tools &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-79679","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/79679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=79679"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/79679\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=79679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=79679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=79679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}