New-age stocks take off; Swiggy goes Indian
India's new-age companies have reached a market cap of $165 billion as more startups go public, according to Trifecta Capital's New Economy Index. While Ather Energy and Groww have seen significant gains, many others, including FirstCry and Ola Electric, are underperforming. Swiggy's shareholders approved a cap on foreign ownership at 49.5%, with plans to transition to an inventory model within two to four quarters.