EaseMyTrip surged 23.7% to lead 31 gainers among 57 new-age tech stocks. Lenskart dropped 2.4% as ADIA sold ₹1,960 Cr in shares post-lockup.
Lockup expiry at Lenskart triggered a wave of selling from early backers this week. ADIA sold shares worth ₹1,960 crore. SoftBank offloaded ₹2,873.3 crore in a block deal on June 3. JP Morgan followed with a ₹96.4 crore sale on June 5.
Before those sales, a group of early investors including Alpha Wave Ventures and BirdsEye Holdings had offloaded shares worth over ₹3,861 crore in total.
Despite the supply, demand remained strong. Domestic mutual funds, pension funds and global investors absorbed the blocks. Lenskart shares ended the week 2.4% lower at ₹494.05. The stock has gained 26% since its IPO in November 2025.
Geojit Investments' chief investment strategist V K Vijayakumar said FII selling in India is showing signs of easing, helped by improving macroeconomic conditions. He said expectations of a US-Iran peace deal helped push Brent crude prices lower, turning sentiment positive.
Separately, EaseMyTrip was the biggest gainer among 57 new-age tech stocks tracked by Inc42. Its shares rose 23.7% to ₹8.35. Thirty-one stocks gained in a range of 0.05% to nearly 24%. Twenty-five stocks fell, led by Yudiz, which plunged 14.81% to a fresh low of ₹22.15.
The market capitalisation of the 57 companies stood at $129.58 billion, down from $131.94 billion a week earlier.
Honasa Consumer hit a fresh 52-week high of ₹437.90 after the parent company of Mamaearth outlined a five-year roadmap. The plan targets revenue of ₹5,500 crore by FY31, up from FY26's ₹2,391.9 crore. It aims to scale multiple brands beyond the ₹500 crore mark and expand EBITDA margins to over 15%. The stock gave up those gains. It ended the week 0.6% lower at ₹413.40.
The broader market helped sentiment. Sensex gained 1.7% to 75,527.95. Nifty 50 rose 1.1% to 23,622.90. The RBI introduced forex swap facilities for ECBs and FCNR(B) deposits, supporting the rupee and liquidity.
Sustained FII inflows are unlikely until the global AI-driven investment cycle moderates, Vijayakumar added.
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