DroneAcharya excels as new-age tech stocks have bearish market return

DroneAcharya: This week, new-age tech stocks had a varied performance as the market experienced a bearish trend despite the healthy economic data and positive Q4 FY23 results.

As a result, the benchmark indices declined, led by the sell-off pressure on HDFC Bank and HDFC Ltd. However, amongst the 14 new-age tech stocks under Inc42’s coverage, nine of them made gains ranging from 0.07% to over 16% on the BSE.

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DroneAcharya Aerial Innovations stood out as the biggest winner. Additionally, Fino Payments Bank, DroneAcharya, and Paytm announced largely positive FY23 results during the week. The Sensex declined by 0.1% to close at 61,054.29, while the Nifty50 marginally gained to end the week at 18,069.

To provide further context, the new-age tech industry includes companies that are at the forefront of innovation and technology such as e-commerce, fintech, and digital payments. The market performance of these companies is often closely monitored as they are seen as key indicators of the overall health of the tech sector and the broader economy.


During the week, positive news emerged from several new-age tech companies, with Fino Payments Bank, DroneAcharya, and Paytm reporting largely positive financial results for FY23. These announcements contributed to the positive performance of some tech stocks in the market.

Read this also: Paytm net loss in Q4 decreased by 78% to INR 167.5 crore, Know Full Details

DroneAcharya: Market Status

However, despite the positive news, the broader equity market saw a bearish trend, with the benchmark indices declining. This was driven by the sell-off pressure on HDFC Bank and HDFC Ltd, which are some of the largest companies in the Indian financial sector.

As a result, the week saw a mixed performance for new-age tech stocks, with some companies experiencing gains while others struggled to maintain their position.

(With Input from Inc42)

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