Turtlemint Leads New-Age Tech Rally; Veefin Falls 14%

Veefin Solutions dropped 13.76% to ₹246.90. The supply-chain financing firm's consolidated net profit fell 40.5% quarter-on-quarter to ₹9.5 crore, while operating revenue shrank 13.2% to ₹114 crore. EBITDA declined 35% to ₹22.42 crore, and the margin contracted to 19.7% from 26.1%. During the week, Veefin also said it raised ₹50 crore across two tranches, including ₹30 crore of debt at a coupon rate of 16.65%. The company is seeking to migrate from the BSE SME platform to the main board and list directly on the NSE, which could improve liquidity, Inc42 reported.

Other big losers included ideaForge, WeWork India, MapmyIndia, and Fino Payments Bank, all of which reported weaker-than-expected quarterly numbers. E2E Networks, SEDEMAC, Paytm, Lenskart, Honasa Consumer, BlueStone, and Ather Energy touched fresh highs after their results.

Logistics firm LEAP India debuted on the BSE on Thursday, listing at a 4.4% premium. It then fell to close 12.59% below its issue price at ₹145.10. Including LEAP, the combined market cap of the 61 new-age tech companies stood at $162.73 billion, up from $151.98 billion the prior week.