New-age stocks make comeback in 2023: Zomato, Paytm, and more
In 2023, stocks like Paytm, Zomato, Nykaa, PB Fintech, CarTrade Tech, and Delhivery have made a strong comeback, rewarding investors after a disappointing 2022. This resurgence is due to better financials and positive outlooks from market analysts. Among these stocks, Zomato has been a standout performer. It not only delivered multi-bagger returns but also surpassed its IPO price.
Zomato skyrockets 108%, surpasses IPO price
Starting the year with a 16% loss, Zomato's stock made a remarkable recovery in April, gaining 27.25%. This upward trend continued, and by June, the stock had exceeded its IPO price of Rs. 76. The winning streak persisted for five more months, resulting in an impressive 108% return for the year. However, it remains 27% below its all-time high of Rs. 169 per share.
PB Fintech and CarTrade Tech exhibit robust performance
The parent company of Policy Bazaar and Paisa Bazaar, PB Fintech, saw its stock price soar by 75% this year, from Rs. 451 to Rs. 789 per share. Despite this growth, it still trades 24% less than its IPO price of Rs. 980 and 46.32% lower than its peak high of Rs. 1,470 per stock. CarTrade Tech's stock also experienced a significant 53% jump in 2023, rebounding from a 44.75% decline in 2022.
Mixed results for Paytm, modest gains for Nykaa and Delhivery
Paytm's stock consistently grew from January to October, with a total increase of 73%. However, it fell by 31% in December after announcing a reduction in small-ticket loans due to regulatory changes. Despite this setback, the stock maintains a 15% gain for the year. FSN E-Commerce Ventures (Nykaa) shares recovered with a 15% increase after a 55.79% loss in 2022. Finally, Delhivery's stocks rose by 8.12% this year, from Rs. 332 to Rs. 357.95 apiece.
