Wednesday, 5 June 2024, Bengaluru, India
The Indian stock markets crashed on Tuesday following the general elections. This erased all gains made before Tuesday, leading to a price crash in all Indian startups. The BSE Sensex crashed by 5.80% followed by the NSE 50 by 6.22% as the election results showed that the BJP had to depend on allies to form a government this time.
Indian startups saw gains on Monday but it all got erased on Tuesday after the stock market crash. Delhivery had a 6.26% loss. Delhivery provides a platform that helps an individual connect over services to track their package across India. The startup has known big clients in this industry including Bharti Artiel Ltd., Softbank Group International, IndusInd Bank, and more. This is the largest Fully integrated logistic providerin India that uses cutting-edge technology and engineering to offer the best services to its clients and customers. The stock prices for all the Indian startups fell into the negative zone.
The direction and impact of the Indian startup ecosystem are now changing again with the government. Indian startups saw a positive start this year and some became unicorns. Awis and GoDigit went public this year and recorded a gain in the stock market. This year many startups including Mobikwok, Ola Electric, FirstCry, and Unicommerce plan to list on the stock market exchange. Indian startups had the highest investment for 2024 in May, with the total funding influx being more than $1.3 billion.
During last month 128 deals were made by Indian startups from 1st May to 31st May. The amount raised from these deals was over $1.34 billion in funding this month. The deal included 66 early-stage deals worth $154 million and 39 growth-stage startups with $1.19 billion worth of deals. The total funding raised last year was around $11.3 billion, and it is likely to increase this year.
Conclusion:
Following the election results startups across the whole country saw a huge decline in its stock. Indian stock markets crashed on Tuesday following the general elections. Delhivery provides a platform that helps an individual connect over services to track their package across India has a 6.26% decline in its stock. In addition to this, the stock prices for all the Indian startups fell into the negative zone. The direction and impact of the Indian startup ecosystem are now changing again with the government. Indian startups saw a positive start this year and some became unicorns. Awis and GoDigit went public this year and recorded a gain in the stock market. Indian startups had the highest investment for 2024 in May, with the total funding influx being more than $1.3 billion. This year many startups including Mobikwok, Ola Electric, FirstCry, and Unicommerce plan to list on the stock market exchange. Awis and GoDigit went public this year and recorded a gain in the stock market. The current government introduced various policies to help Indian startups grow, now everyone is waiting to see what new policies the upcoming government will introduce in this market.
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