New-Age Tech Stocks | CarTrade Tech biggest weekly gainer, Zomato up 6%; D-Street experts pick Paytm for short-term | Stock Market News
Source: Live Mint
New-age tech stocks such as Zomato, Nykaa, Mamaearth, FirstCry, Paytm, Policybazaar, among others, have lately generated a buzzing interest among D-Street investors, especially after significant volatility following their respective initial public offerings (IPOs). D-Street experts say a combination of improved performance, attractive valuations and profitability, strategic growth, and favourable market conditions has led to a positive outlook for these companies.
What are new-age internet companies?
New-age tech companies focus on innovative and high-growth areas. They often leverage modern technologies like artificial intelligence, machine learning, the Internet of Things (IoT), and blockchain to create unique products and services. The companies are characterized by sudden growth, high market valuations, and significant potential for disrupting traditional industries.
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.
Stock price trend
In the first week of September, the new-age tech stocks including Zomato, Nykaa, Honasa Consumer, and CarTrade Tech fed well, showcasing improving relative strength compared to the general market.
