New-age stocks in focus; Paytm, Policybazaar, Zomato, Nykaa gain up to 10%

Shares of beaten down new-age internet companies rallied up to 10 per cent on Wednesday, supported by heavy volumes, on expectation of improvement in financial performance.

Shares of digital financial services firm One97 Communications, which owns Paytm; PB Fintech, the parent company of Policybazaar; food aggregator platform Zomato; and Nykaa’s parent company – FSN E-Commerce Ventures zoomed in the range of 5 per cent to 10 per cent on the BSE in the intra-day trade today. In comparison, the S&P BSE Sensex was up 0.71 per cent at 60,716.

In the past one year, these stocks have underperformed the market by falling between 31 per cent and 53 per cent, as against 5 per cent rise in the Sensex.