Wakefit Surges 17% To Lead New-Age Tech Stocks This Week; Lenskart, Turtlemint Hit New Highs

Wakefit led India's new-age tech stock universe for the week ending August 22, rallying 16.69% to close at ₹141.55, per Inc42. Shares of four companies — Klassroom, Zelio E-Mobility, Turtlemint, and Lenskart — touched fresh 52-week highs during the same period. Overall, 34 of the 61 tracked new-age tech stocks posted gains between 0.11% and 16.69%.

The rally in Wakefit coincided with the release of the D2C home and furnishings company's FY26 annual report, according to Inc42. The company reported its highest-ever annual operating revenue of ₹1,488.9 Cr, up 17% year-on-year, with an operating EBITDA of ₹112.3 Cr. Net profit came in at ₹189.2 Cr, swinging from a net loss of ₹35 Cr in the prior fiscal year. Mattresses remained the largest category at 61.4% of FY26 revenue, followed by furniture at 29.3% and furnishings at 9.3%. Direct channels — the company's website and owned stores — accounted for 67.2% of revenue, up from 57% a year earlier. As of March 2026, Wakefit operated 139 company-owned stores across 76 cities, with products also available through 1,948 multi-brand outlets.

Urban Company was the second notable gainer, climbing 9.87% to ₹158.60 after UBS initiated coverage with a 'Buy' rating and a ₹180 target price, per Inc42. The brokerage described India's online home services market as approaching its "Blinkit moment" and projected Urban Company's net transaction value to grow at a 32% CAGR to ₹10,000 Cr by FY29 from ₹4,300 Cr in FY26. The company's core India consumer services business crossed ₹1,000 Cr in quarterly NTV for the first time, while its UAE and Singapore operations turned profitable. Logistics tech company LEAP India also gained 11.75% to ₹162.15, following its muted market debut on August 14.

Shiprocket made a bumper stock market debut on August 19, bringing the total number of new-age tech stocks tracked by Inc42 to 62. The ecommerce enablement platform's ₹1,617.5 Cr IPO comprised a fresh issue of ₹885.5 Cr and an OFS of about ₹732 Cr. The stock gained 8.58% from its listing price over its first three trading sessions. Early backer 500 Global clocked a gross return of up to 77.6X on the shares it sold through the OFS. The 62 tracked companies together commanded a combined market capitalisation of $166.84 Bn as of the week's close.

On the downside, 27 stocks fell between 0.01% and more than 11%. SME-listed Yudiz and TAC Infosec were among the biggest laggards, while AI cloud infrastructure provider E2E Networks dropped 9.68% to ₹622 after a month-long rally. The broader Indian market also ended lower for the second consecutive week, with the Nifty 50 declining 0.47% to 24,252 and the Sensex falling 0.60% to 77,540.83, weighed down by geopolitical tensions, elevated crude oil prices, and rising global bond yields, per Inc42. The BSE SmallCap index bucked the trend, gaining about 1.2% during the week.

Looking ahead, upcoming US inflation and GDP data are flagged as key indicators for the global interest-rate trajectory, according to Vinod Nair, head of research at Geojit Investments, as quoted by Inc42. On the IPO pipeline, Atomberg filed its DRHP with SEBI for a fresh issue of up to ₹450 Cr, manufacturing unicorn Zetwerk filed for a ₹2,600 Cr public issue, and online stockbroking platform Upstox reportedly began preliminary discussions with investment banks for a potential $400 Mn IPO.