Aequs shares jumped 21% this week, making it the top gainer among new-age tech stocks. This rally came despite EV players Ola Electric and Ather Energy seeing significant drops. It's a reminder that future projections, even from loss-making companies, can move markets fast.
How We Got Here
Investor sentiment around Aequs turned positive after the company projected 4-6X revenue growth by FY31 and PAT breakeven by H1 FY28. This helped lift the overall market cap of 57 new-age tech firms to $134.52 billion, up from $129.58 billion last week.
The Numbers
- Aequs also approved a ₹33 Cr investment in its French aerospace subsidiary for operational requirements.
- Fintech SaaS company Veefin's board approved a proposal to move from the SME platform to the main board of the BSE.
- Insurtech firm Turtlemint’s IPO was subscribed 45% on its first day after netting ₹397 Cr from anchor investors.
- Jio Platforms filed its draft prospectus for a public issue comprising solely a fresh issue of up to 27 Cr shares.
- Ola Electric’s shares fell 7.54%, while competitor Ather Energy dropped 5.49% this week.
What Happens Next
🇮🇳 Why This Matters for India
For Bangalore-based fintech investors, Veefin's mainboard move signals increased liquidity options for smaller SaaS players, potentially diversifying portfolios beyond traditional IT services.
The Take
The market is clearly favoring long-term growth narratives and future profitability, even for presently loss-making entities like Aequs. This tells you investors in Mumbai are increasingly comfortable betting on execution against future guidance, rather than current financials.
Source:
Inc42 ↗