New-Age Tech Stocks | Policybazaar pips CarTrade to log biggest weekly gain; Zomato ‘upgraded’ on near-term profit | Stock Market News

New-age tech stocks such as Paytm, Zomato, Nykaa, among others, witnessed rapid changes in their respective stock prices this week when domestic equity benchmarks Sensex and Nifty 50 logged record highs on strong global cues. Some of the top new-age tech stocks snapped their winning streaks, while others outperformed the frontline benchmarks on robust buying interest.

Among the biggest trend makers, India’s largest online insurance and lending platform, PB Fintech, which operates Policybazaar, overpowered CarTrade Tech to emerge as the biggest weekly gainer among the top new-age tech stocks. PB Fintech snapped CarTrade Tech’s streak and gained eight per cent in the five market sessions, followed by Zomato, which rose 4.66 per cent.

New-age tech stocks outlook

FSN E-Commerce Ventures (Nykaa) CMP Target Price ₹190

FSN E-Commerce Ventures (Nykaa) has a diverse portfolio of beauty, personal care, and fashion products, including owned brand products manufactured by it. ‘’As a percentage of NSV, we believe the fulfilment costmay increase in the near term, as the company attempts to cover a larger number of cities in the same-day/next-day delivery folds,” said Shrikant Chouhan, Head Equity Research, Kotak Securities

“Consequently, we trim EBITDA estimates for our BPC and eB2B segments, resulting in a 7-11 per cent EPS cut for FY2025-27 and a new FV of Rs190. The sharp 34 per cent run-up in stock price in the past three months drives a downgrade in the rating from ADD to SELL,” added Chouhan.
 

Delhivery CMP Target Price ₹560

Delhivery provides a full range of Logistics services, including delivery of express parcels and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. The 1Q beat helps allay Valmo’s effect on revenue growth and profitability.

 The growing reach and interplay of Delhivery’s businesses are helping it leverage its integrated and interoperable network, increasing its cost lead over its new-age/traditional monoline business peers. It is rightfully skipping new opportunities that limit the use of such network moats. 

‘’This should likely set the stage for a period of positive surprises on margin uptick. We increase our margin estimates by 60-100 bps (versus ~100 bps 1Q beat); FV increases to ₹560 from ₹545. BUY,” said Kotak Securities.

Zomato CMP Target Price ₹270

Zomato’s food delivery GOV growth came in at a solid 27 per cent YoY and beat estimates. Food delivery CM of 7.3 per cent (versus 7.5 per cent in 4QFY24) was muted, though operating leverage ensured sequential EBITDA margin expansion. Blinkit’s GOV grew a solid 130/22% yoy/qoq, accompanied by CM improvement and loss reduction. 

Guidance of achieving a ~2,000 store count by end-2026 is aggressive and shows the company’s confidence in the model. We upgrade revenue estimates, but bake in lower near-term profitability, resulting in a 7-9 per cent FY2025-27E EPS cut. Strong growth and steady margins in food delivery warrant lower WACC, resulting in a revised SoTP-based FV of ₹270,” said Shrikant Chouhan of Kotak Securities.

India’s top new-age tech firms operate in digital mapping, fintech, online marketplaces, food delivery services, logistics, gaming, and cloud computing. These firms include Awfis, Ola Electric, Digit Insurance, Mamaearth, Zomato, Nykaa, Paytm, FirctCry, Zaggle, RateGain, MapMyIndia, and Delhivery. In the last week, shares of Awfis and Nykaa surged the most among all new-age internet stocks.

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Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.