New-age internet stocks have lately generated a buzzing interest among D-Street investors, especially after significant volatility following their respective initial public offerings (IPOs). E-commerce and tech companies such as Zomato, Nykaa, Awfis, FirstCry, Paytm, Policybazaar, among others, have witnessed a surge in their stock prices with traders looking to either buy, sell, or hold for both near- and long-term periods.
D-Street experts say that the initial post-IPO market correction allowed for more accurate valuations, and increased institutional investment have further stabilized stock prices for the new-age tech companies. This combination of improved performance, strategic growth, and favorable 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.
Companies operating in digital mapping, fintech, online marketplaces, food delivery services, logistics, gaming, and cloud computing are India’s top new-age tech firms. Awfis, Ola Electric, Digit Insurance, Mamaearth, Zomato, Nykaa, Paytm, FirctCry, Zaggle, RateGain, MapMyIndia, Delhivery, are the top new-age tech companies. In the last week, shares of Awfis and Nykaa surged the most among all new-age internet stocks.
Stock price trend
Shares of Awfis surged 25.1 per cent in the last five days, while Nykaa zoomed over 16 per cent. Shares of Zomato and Paytm shed 0.68 per cent and 1.67 per cent respectively this week, while Policybazzar dropped 0.47 per cent. Shares of Ola Electric dropped 4.93 per cent while Digit Insurance gained five per cent.
Over the past year, Zomato has led the new-age pack. Shares of the food delivery giant have surged nearly 189 per cent over the last 12 months, with a 109 per cent gain so far in 2024. Zomato’s momentum continued in August, climbing nearly 13 per cent and marking its third consecutive month of gains.