Twelve out of the 16 new-age tech stocks under Inc42’s coverage gained in a range of 0.2% and over 7% this week Delhivery, IndiaMart, ideaForge, and Tracxn were the only losers this week, declining between 1% and 4% on the BSE In the broader market, Sensex fell 0.1% to 64,886.51 while Nifty 50 declined 0.23% to 19,265.8 this week, largely due to the weakness in global markets Indian new-age tech stocks largely witnessed a northbound movement this week despite the weakness in the broader domestic equity market. Twelve out of the 16 new-age tech stocks under Inc42’s coverage gained in a range of 0.2% and over 7% this week, while EaseMytrip emerged as the biggest winner with 7.3% gain on the BSE. Other gainers of the week included MapMyIndia (jumped 7.1%), Paytm (up 4.6%), CarTrade Technologies (up 3.8%), Nykaa (rose 2.8%), and Zomato (up 1.7%). Meanwhile, Delhivery, IndiaMart, ideaForge, and Tracxn were the only losers this week, declining between 1% and 4% on the BSE. In the broader market, Sensex fell 0.1% to 64,886.51 while Nifty 50 declined 0.23% to 19,265.8 this week. The indices fell sharply in two consecutive trading sessions on Thursday and Friday, largely due to the weakness in global markets. “Markets tumbled sharply tracking weak global equities, as rapidly-rising bond yields continue to weigh on the sentiment. Bets for more Fed rate hikes continue to boost bears’ confidence ahead of Jerome Powells’ speech at the annual Jackson Hole Symposium event,” said Prashanth Tapse, senior VP (research) at Mehta Equities. Tapse sees a possibility of a massive sell-off in the domestic market amid deteriorating technical and fundamental catalysts that are denting sentiments. The market is also expected to react to the upcoming annual general meeting of Reliance Industries on (August 28).  Besides, India’s Q2 GDP and Purchasing Managers’ Index (PMI) data in the coming week, along with cues from China, foreign investor activities, and fluctuations in the dollar index and US bond yields, will play a pivotal role in shaping market dynamics throughout the week, said Santosh Meena, head of research at Swastika Investmart.  Now, let’s take a detailed look at the performance of some of the new-age tech stocks this week. The 16 new-age tech stocks under Inc42’s coverage ended the week with a total market capitalisation of $36.36 Bn as against $34.45 Bn last week. Ant Group Offloads 3.6% Stake In Paytm Antfin (Netherlands) Holding B.V. sold 2.27 Cr shares or 3.6% stake of Paytm worth over INR 2,037 Cr on Friday. The latest share offloading came shortly after Antfin transferred 10.3% Paytm stake to founder Vijay Shekhar Sharma’s Resilient Asset Management via an off-market transaction. At the end of the June quarter, Antfin held 15.09 Cr shares or 23.79% stake in Paytm. Paytm shares saw a major jump mid-week, however, it ended Friday’s trading session in the red at INR 899.3 on the BSE. Overall, Paytm shares rose 4.6% this week. It is pertinent to note that Paytm also published its annual report for FY23 this week in which CEO Sharma informed stakeholders about the company’s intention to disrupt the small mobile credit market in the country. “By helping enable digital loan collection on app, we are now creating a small revolution for financial inclusion, where a loan of as small as a few hundred rupees can be disbursed and collected at very minuscule cost,” Sharma said. Following a significant rally in its shares in the last few months, the shares of the fintech major have gained almost 70% year to date (YTD). Rupak De, senior technical analyst at LKP Securities, said Paytm is currently in an uptrend and the support for the stock is at INR 880. “If it sustains above INR 880, then the uptrend might continue. Else, there could be some consolidation,” De said, adding that the overall trend is sideways to positive. The target for the stock in the medium term is INR 1,160 and it is INR 1,000 for the short term, he said. EaseMyTrip Biggest Winner After a significant downfall since last month, shares of traveltech giant EaseMyTrip regained momentum this week. Its shares jumped 7.3%, ending Friday’s session at INR 40.1 on the BSE. It is pertinent to note that EaseMyTrip was the second-biggest loser among the new-age tech stocks last week, with its share nosediving 7.5%. Its shares were largely hurt by Q1 results where it reported a decline in profit. However, this week, the stock gained in three consecutive sessions to emerge the biggest winner. LKP Securities’ De said that the stock is facing a near-term resistance at INR 42, which, if cleared, would make it rally towards INR 48 in the short term. EaseMyTrip’s support lies at INR 38, he added. While most of the new-age tech stocks have bounced back this year after the sharp falls in 2022, shares of EaseMyTrip are trading 24% lower YTD. Zomato’s Monetisation Experiments  Almost a month After Zomato started levying a platform fee of INR 2 per order for select users, the foodtech major increased the fee to INR 3 for some users in Tier II cities this week. While the fee was initially levied only on select users, the company told Inc42 that it would ultimately be applicable to all customers. However, the development is currently in the experiment stage. It must be noted that Zomato has been trying and testing different ways to increase its revenue. It also became profitable in the June quarter of FY24. Meanwhile, the lock-in period for investors who received Zomato shares following the Blinkit deal in August last year ended this week. As per reports, SoftBank is now looking to offload its shares in the company via block deals and book profit. Shares of Zomato slumped 3% on Friday alone, ending the week at INR 90.94 on the BSE. However, the shares gained 1.7% this week. The current support for the stock is at INR 88, said LKP Securities’ De. Till the time Zomato manages to sustain above this

Apple has announced the August update for its subscription-based online gaming platform – Arcade. This month, the platform is set to see a couple of new titles along with content updates on several popular titles including recently launched Hello Kitty, LittleTwinStars, etc. Here’s everything that’s coming to Apple Arcade in August. New games coming to Apple ArcadeApple Arcade, the popular gaming service, is set to introduce two exciting titles for gamers.Finity: Today, Arcade welcomes “Finity.,” a unique indie puzzle game that promises to offer a fresh and reimagined puzzle experience. This is a minimalist 2D game that blends elements from iconic puzzle games to offer a skillful yet satisfying journey. It draws inspiration from chess’s complexity, Tetris’s endless replayability and the gratifying feedback of match-three games.Samba de Amigo: Party-To-Go: The game will launch on August 29. This game marks the return of SEGA‘s beloved rhythm game series, bringing vibrant and modern rhythm action to your fingertips. As a contemporary sequel to the 2000s classic, players can enjoy the beat on the move. With exclusive tracks like PSY’s “DADDY (feat. CL),” Lady Gaga’s “The Edge of Glory,” and Fitz and the Tantrums’ “The Walker,” along with a series-first Story Mode, “Samba de Amigo: Party-To-Go” claims to deliver an exciting musical journey.Updates coming this monthHello Kitty Island Adventure: Launched in July, the game is currently the number 1 title on Apple Arcade with a remarkable rating of 4.9 out of 5 stars based on 31,000 ratings. The game will receive its first major update that will bring Kiki and Lala, the LittleTwinStars. Players can explore a new area, Cloud Island and join the Summer’s End in-game event running until September 29. This update also extends an invitation to discover Friendship Island.Halfbrick Fun event: Developer Halfbrick has announced an entertaining event across their hit games, including Jetpack Joyride 2, Jetpack Joyride+ and Fruit Ninja Classic+. Players can unlock exciting gear, such as a retro pixel Barry skin in Jetpack Joyride 2, the Fruit Flinger gadget in Jetpack Joyride+ and a Laboratory-themed Dojo in Fruit Ninja Classic+. Keep an eye out for more crossover events for these three games on September 8.Other Fun Updates: Several other games on Apple Arcade receive exciting updates:Stitch.: Introduces Rank Rewards, allowing players to collect points in Tiers to unlock newly added Rank Rewards Hoops.Subway Surfers Tag: Robo Road arrives, challenging players to defeat Guard and his Robots in Arenas while unlocking rewards, including characters and outfits. Each Arena now features three levels with unique upgrades and difficulty levels.Zookeeper World: Weekly Team Puzzle Events are now available, enabling players to team up with others to earn points and rewards.TIME LOCKER+: Three new special characters exclusive to Apple Arcade are introduced.Farmside: A new Restaurant building is added, where players can fulfill visitor orders to upgrade their restaurants.

Announcing his exit via a post on X, the outgoing Unacademy COO did not clarify what his next move would be An NIT Jamshedpur and ISB alumnus, Vivek Sinha joined Unacademy in August 2020 as COO Previously, Sinha had worked at OYO and Mobikwik, having also founded a construction-tech startup, Buildzar.com Vivek Sinha, the chief operating officer (COO) of the edtech unicorn Unacademy, has resigned from his post. He announced his departure via an X post on Saturday evening (August 26). “After three incredible years at Unacademy, I have decided to take the next step in my career. Grateful for the opportunities, friendships, and memories I have gained. Thank you for believing in me and constantly pushing me to operate at (the) peak of my abilities Gaurav Munjal,” said Sinha. In response, Gaurav Munjal, Unacademy CEO, said, “Thank you @viveksinhaisb for being a part of Unacademy. You’re one of the most Relentless Leaders I have worked with. Best wishes for the future :)” Sinha did not clarify what his next move would be. An NIT Jamshedpur and ISB alumnus, Vivek Sinha joined Unacademy in August 2020 as the COO. In his role at the edtech unicorn, he managed the full-stack P&L of digital test prep, hybrid centres, K12 and jobs & skills verticals. According to his LinkedIn profile, Sinha was directly in charge of about 4,000 employees across functions such as growth, business, marketing, BD, sales, content, ops, CX, academics, CAPEX and real estate. Previously, Sinha had worked at OYO and Mobikwik. At OYO, Sinha managed an SBU (separate business unit) for the startup’s joint venture with Softbank managing luxury hotels in the country. Sinha had also founded a construction-tech startup, Buildzar.com, in 2015. At the startup, the ex-Unacademy COO raised $4 Mn in Series A funding before exiting the startup in 2016. The exit comes days after Unacademy hired Aakash Educational Institute’s Anurag Tiwari to lead its offline vertical, in what now appears to be a bid to redistribute some of the responsibilities the outgoing COO looked after. The edtech unicorn also elevated Graphy CEO Sumit Jain to the role of a partner. Unacademy, which has undertaken multiple cost-cutting measures over the past few months, including firing thousands of staffers, also posted a cash flow positive month in June 2023, as announced by CEO Munjal on social media. The edtech unicorn is yet to file its financials for FY23, however, it posted a net loss of INR 2,848 Cr in FY22, up 85% year-on-year (YoY).

In a mail to employees, Cuemath CEO Manan Khurma cited bad macro situation and the divergence in the revenue and cost trajectories of the startup as the reason for the layoffs The Google-backed startup also laid off around 100 employees in May this year, within a year of it raising a funding of $57 Mn Cuemath, which offers mathematics courses to K-12 students, reported over 65% YoY increase in its net loss to INR 217 Cr in FY22 Peak XV Partners-backed edtech startup Cuemath has reportedly fired another 100 employees to bring down its costs.  “…unfortunately, our revenue and cost trajectories are still divergent from expectations, and our problems are compounded by the bad macro situation around capital availability, particularly for edtech,” Cuemath founder and CEO Manan Khurma told the employees in an email on Friday (August 25), as per a Moneycontrol report. “This means that we will have to move to a leaner team structure, in which some roles will get redundant. That exercise is being carried out today,” the email reportedly read. Inc42’s email to Cuemath did not immediately elicit a response till the time of publishing this article. The development comes three months after the Bengaluru-based edtech startup fired around 100 employees in May this year, within a year of it raising a funding of $57 Mn. After the May layoffs, Khurma had reportedly told the Cuemath employees saying there wouldn’t be any need for more layoffs.  “And at that point, I had full conviction in saying that. But clearly, I had underestimated the extent of the turnaround required to get the company into a healthy situation,” Khurma said in his latest mail.  “For what it’s worth, I and our leadership team worked very hard in the last few weeks to avoid this outcome. But we’ve come to the conclusion that we still have a long way to go and this action is inevitable,” he was quoted as saying. In May, Khurma also returned as the full-time CEO of the company. Founded in 2013 by Manan and Jagjit Khurma, Cuemath offers mathematics courses to K-12 students and is present in over 80 countries. The startup is backed by marquee investors like Google, Alpha Wave Incubation, and Lightrock India. Cuemath’s standalone net loss widened 65.7% year-on-year (YoY) to INR 216.6 Cr in FY22, while its operating revenue jumped 64% to INR 148 Cr. Employee benefit expenses accounted for almost 34% of its total expenses of INR 369.6 Cr in the year. Cuemath is yet to file its FY23 financial statements. The edtech sector is one of the worst hit due to the ongoing funding winter. Since 2022, at least 22 edtech startups in the country, including five of the seven edtech unicorns, have fired 9,871 employees, as per Inc42’s layoff tracker. Many Indian edtech startups have also been involved in controversies. While BYJU’S is in the line of fire for a range of issues, including corporate governance and delay in filing financial statements, last week Inc42 exclusively reported about various allegations levelled by students against Skill-Lync.

Online pharmacy platforms, including Tata 1mg, PharmEasy, Netmed, and Practo, attended the meeting conducted by the DCGI During the extensive two-hour deliberation, the All India Organization of Chemists and Druggists highlighted the absence of provisions in the Drugs Act for issuance of licences to epharmacies Earlier, the Delhi High Court asked the Centre to apprise it of the outcome of deliberations with industry stakeholders on regulating epharmacies The Drugs Controller General of India (DCGI) conducted fresh consultations on draft regulations for epharmacies this week with industry stakeholders earlier this week after the Delhi High Court asked the regulator to inform it of the outcome of the deliberations. All India Organization of Chemists and Druggists (AIOCD), representatives from the Pharmacy Council of India and online pharmacy platforms, including Tata 1mg, PharmEasy, Netmed, and Practo, attended the meeting conducted by the DCGI, ET reported. While hearing petitions seeking a ban on “unlawful” sales of drugs online, the HC had given the Centre a time of six weeks to apprise it regarding the deliberations with epharmacy stakeholders. The court scheduled the next hearing in the case for August 28. For a long time now, retail chemist associations have been expressing their concerns over the sale of medicines through epharmacies, highlighting that currently there are no regulations for these platforms. During its extensive two-hour deliberation on Thursday, the AIOCD highlighted the absence of provisions in the Drugs Act for issuance of licences to epharmacies. Last year, the government came out with the draft New Drugs, Medical Devices and Cosmetics Bill, 2022. The Bill sought to bring epharmacies under its ambit. As per Section 41(2) of the draft bill, online pharmacies will have to acquire a licence to continue operating as usual. The draft bill also includes suggestions for regulating epharmacies further. Online pharmacies would also not be permitted to sell medical devices without a licence if the bill becomes law. However, the health ministry is now reportedly working on the revised draft of the bill and seeking inputs from other departments as well. In February, the DGCI sent show-cause notices to 20 epharmacies, including Tata 1mg, Amazon, and Flipkart, for selling and distributing drugs in contravention of provisions of the Drugs and Cosmetics Act, 1940. Earlier in March, a parliamentary standing committee on commerce recommended the Ministry of Health and Family Welfare (MoHFW) to finalise and implement the draft epharmacy rules without further delay and formulate comprehensive guidelines with regard to the online pharmacy and health platforms. According to a report by Research and Markets, the Indian online pharmacy market was estimated at INR 25.50 Bn in 2021 and expected to expand at a compound annual growth rate (CAGR) of 22.20% to reach a size of INR 89.47 Bn by 2027. India’s healthtech segment has more than 5,000 startups which raised nearly $6 Bn between 2014 and November 29, 2022. Of this, online pharmacy startups raised $1.25 Bn, according to Inc42 data.

Boat has entered into a new wearable category with the launch of its first smart ring. The company has launched its first Boat Smart Ring in India. Named as Boat Smart Ring, the wearable sports a ceramic design. The smart ring is also capable of keeping track of your daily activities.PriceThe Boat Smart Ring comes with a price tag of Rs 8,999. The smart ring will be available online on Amazon.in and Flipkart starting August 28. The wearable will come in three sizes 7, 9, and 11 with diameters of 17.40mm, 19.15mm, and 20.85mm respectively. Boat Smart Ring featuresThe Boat Smart Ring comes with all the essential features. The wearable comes with advanced tracking capabilities and it sports a premium ceramic and metal design.The Boat Smart Ring also comes with smart touch controls. The domestic wearable manufacturer has a swipe navigation functionality and it also offer intuitive touch controls.The company has also revealed that by using the smart ring users can play and pause music, change tracks, click pictures and navigate applications. The Boat Smart Ring works with the companion Boat Ring app. The app claims to offer detailed insights of the user’s health. The Boat Smart Ring comes equipped with a heart rate monitor, SpO2 sensor and body temperature monitor. The wearable can also keep track of users sleep and it will also feature menstrual tracking functionality. The wearable will sport axis motion sensors and will feature a water-resistant design.Boat Smart Ring to compete with Noise Luna RingThe Boat Smart Ring will face competition from the yet-to-launch Noise Luna Ring. Noise envisions the smart ring as a catalyst for cognitive well-being, harmoniously blending technology into users’ lives. This innovative ring provides three key metrics – Sleep, Readiness, and Activity – aimed at delivering insightful data to elevate users’ holistic well-being. With advanced sensors and durable craftsmanship, the Luna Ring empowers users to make informed lifestyle improvements effectively.

Realme recently launched its affordable pair of true wireless earbuds — Realme Buds Air 5 in India. The earbuds are now up for sale in the country. The Realme Buds Air 5 feature call noise cancellation and comes with a 12.4mm mega titanizing driver unit. Price and offerThe Realme Buds Air 5 comes with a price tag of Rs 3,699. Customers can purchase the true wireless earbuds in Deep Sea Blue and Arctic White colour options. The earbuds can be purchased online from Realme.com, Amazon.in and Flipkart. Customers can also purchase the Realme Buds Air 5 from authorised retail stores in the country. As part of the launch offer, Realme is also giving a discount of Rs 200 on the earbuds. After the discount, the customers can get the Realme Buds Air 5 at Rs 3,499.Realme Buds Air 5 featuresRealme Buds Air 5 – equipped with a robust 12.4mm titanized driver and boasting compatibility with Bluetooth version 5.3. These exceptional true wireless earbuds hold an IPX5 rating, rendering them resilient against water exposure.Experience the convenience of dual device connectivity, seamlessly managed through the Realme Link app. The earbuds’ innovative 6-mic configuration incorporates AI-driven environmental noise cancellation technology, guaranteeing crystal-clear calls even in noisy surroundings.Claiming an impressive 38 hours of continuous music playback, the company ensures a prolonged audio experience. Additionally, the earbuds feature swift-charging capabilities for your convenience.

Google has updated its ChromeOS with a host of new features. In a blog post, Google has detailed all the new features coming with the latest version (M116) of ChromeOS. Here’s all that’s new for those who use Chromebooks: Improved search in Files app With the latest ChromeOS version, searching in the Files app has been improved. “You can now search across your local files and Google Drive at the same time, and also customise your search using the new search chips,” said Google. Enhanced autocorrection Autocorrection is now enabled by default for English in compatible apps, automatically fixing typos, spelling, and other errors. “In addition to the new autocorrection for physical keyboards, this update also enhances the performance of the virtual keyboard’s autocorrect and other Assistive features,” noted Google in the blog post. Setup process is more flexible According to Google, ChromeOS’ revamped flow now gives users more device customisation options and more flexibility in how they complete device setup, making the onboarding experience smoother. “The new customisation options — touchpad scroll direction and display size — help users to configure critical settings early on, easing their transition to a new OS,” said Google.Furthermore, even returning users that are already familiar with ChromeOS will find the revamp refreshing, as the setup wizard is now more streamlined and thorough. This has been so that most of the necessary configurations are in place right away when they sign into a new Chromebook.For RGB keyboardsThe new version of ChromeOS bring the ability to customise the colour of the individual zone of the RGB keyboard. “The user still has the option to apply a single backlight colour,” added Google. This feature is currently available on Chromebooks that come with RGB keyboard.Do keep in mind that the update will be progressively rolling out over the coming days. Your device may not immediately be eligible for this update, says Google.

When the rebranding of Twitter took place, the main idea was to project a platform which was not just about tweeting. Elon Musk had made his intentions clear about turning the social media platform into an “everything app”. Now, it seems like X is taking a step in that direction. The social media platform has announced a new feature for companies. In a post on X, the Hiring handle said that organisations can now feature important roles and reach relevant candidates. “Feature your most critical roles and organically reach millions of relevant candidates,” X said in the post. However, the feature is in beta stage right now and will be available exclusively for Verified Organisations only. Taking on LinkedIn? While it is still far away from being a threat to LinkedIn, the feature is to rival the Microsoft-owned platform in some form. LinkedIn remains quite popular with organisations and users when it comes to job listings. X is giving Verified Organisations an alternative to reach out to candidates and post jobs. Having said that, the feature is still in beta stage and perhaps X is assessing the interest from organisations before rolling out other features that could rival LinkedIn. What are Verified Organisations on X? Any organisation that purchases a subscription to Verified Organisations will receive a gold checkmark and square avatar if they are a business or non-profit, or a grey checkmark and square avatar if they are a governmental or multilateral organisation. In India, the monthly fee to become a Verified Organisation on X is Rs 82,300. Verified Organisations receive a number of customisations to their profile. In addition to gold checkmarks, businesses also receive a square avatar, clearly distinguishing them from other organisations.All Verified Organisations accounts also receive a new tab on their profile that lists all affiliated accounts. This appears next to the posts tab and displays any affiliated accounts.

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