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The Indian stock market has taken a hit, causing major tech stocks to tumble. Swiggy, Ola Electric, and FirstCry have all dropped below their IPO prices. Once seen as fast-growing companies, they now face tough market conditions.
Swiggy: The food delivery giant’s shares have fallen over 7%, slipping below ₹390. Its losses widened to ₹799.08 crore in the third quarter, compared to ₹574.38 crore last year. Rising costs pushed total expenses to ₹4,898.27 crore.
Ola Electric: The electric vehicle maker saw its stock fall 12% in just five days. This sharp decline highlights growing concerns in the EV sector.
FirstCry: The online baby products retailer dropped 11.28% over five days. This reflects the struggles of e-commerce firms in a slowing market.
Other tech stocks, including Paytm and PB Fintech, have also fallen sharply. Paytm is down 40%, while PB Fintech has lost 28%. The overall decline shows weak investor confidence in new-age tech firms.
Investors should stay cautious and analyze risks before making decisions.
