Listed Indian startups face market chaos

Hello,

In just 16 trading days in 2022, since January 3, the S&P BSE Sensex has seen tremendous volatility.

On January 24, at the daily low of 56,984.01, the 30-stock Sensex was down 1,326.08 points – or 2.27% – from the 2022 opening value of 58,310, 09 on January 3.

Just five trading days ago, on January 18, the Sensex had hit 61,475.15 points – its highest level in 2022. In comparison, at Monday’s low, the index was down 4,491.14 points – or 7.31%.

And comparing the Sensex’s 52-week high (and also its recent lifetime high) of 62,245.43 points on October 19 of last year to Monday’s low point, the benchmark has experienced a fall of 5,261.42 points – 8.45% – in a matter of just 68 trading days.

Clearly, the recent bout of volatility shows steep moves on the benchmark, and so does the market performance of eight tech startups that have gone public through their initial public offerings (IPOs). in 2021 – also hailed as the best year ever for IPOs.

On Monday, alongside the 1,545.67 – or 2.62% – drop in the S&P BSE Sensex, the eight tech startups saw an erosion of 38,171 crore rupees ($5.1 billion) in their total market value . It was close to Rs 2.70 lakh crore ($36.3 billion) on Monday, down from Rs 3.08 lakh crore ($41.4 billion) on Friday.

AT Your story, we analyzed the trading day closing prices of these eight tech startups and the value at which the S&P BSE Sensex closed on the respective trading days.

And, after rebasing the closing prices and Sensex close to 10,000 on the respective trading days, we have arrived at the performance of the value invested at the close of trading on January 24 (Monday). Read more.


The interview

FarEye CEO Kushal Nahata dives into the process of building a global end-to-end logistics startup from India and outlines the company’s expansion plans and the way forward.

Founded in 2013 by Kushal, Gaurav Srivastava and Gautam Kumar, FarEye aims for an improved delivery experience for end customers through its intelligent delivery management platform.


Editor’s Pick: Techie Tuesday

Prasanta Kumar Ghosh, Associate Professor at Indian Institute of Science (IISc), Bengaluru, has developed several patented voice technologies using Artificial Intelligence (AI), Machine Learning (ML) and Augmented Reality (AR). His love for science and technology developed very early when he was in school.

In this week’s Techie Tuesday, we feature Prasanta, whose work in voice recognition is transforming many lives. Read more.


Spotlight on startups

Become a leader in the communication skills segment

Launched in 2016 by XLRI graduates Kunal Malik and Maneesh Dhooper to disrupt India’s unorganized private lessons sector, PlanetSpark sought to transform traditional KG lessons into Class 8 by combining physical education with mobile technology.

However, the platform switched to online courses in October 2019 after seeing the dramatic increase in demand for edtech. With more than 2,000 tutors and 22,000 students trained on its platform to date, the Gurugram-based startup aims to make children between the ages of 4 and 16 confident communicators. Read more.

Co-founders, PlanetSpark


Update News

  • Fullerton India and One97 Communications Limited, the parent company of Paytm, have partnered to provide loan products to MSMEs. The initiative aims to meet the credit needs of MSMEs in small towns and villages to help them expand their businesses.
  • Ezetap announced that Byas Nambisan, CEO since 2019, has now been appointed co-founder by the board. This is in recognition of his leadership in bringing the company to the forefront of India’s dynamic fintech landscape.
  • Flipkart has scaled up its grocery operations to now serve consumers in 1,800 cities, including Ajmer, Amritsar, Bhuj, Dehradun, and Kanyakumari, among others. With this expansion, Flipkart now has a presence in 23 states, increasing its reach to 10,000 PINs.

Before you go, stay inspired with…

Deepinder Goyal, Founder and CEO, Zomato

“Anything good and meaningful takes decades to build.”

— Deepinder Goyal, Co-Founder and CEO, Zomato


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