An equal-weighted custom index of India’s five flagship Internet stocks including Paytm parent One 97 Communications Ltd. and Zomato Ltd. has risen more than 20% in 2023, bolstered by the firms’ focus on profitability and a buzzing economy.
India s consumer technology stocks, including One 97 Communications and Zomato, have outperformed their Chinese counterparts this year, rising more than 20% as of September 2023. The strong performance was supported by the firms focus on profitability and India s economic growth potential. Meanwhile, China s tech giants have seen a lacklustre performance as share prices remain below January levels, due to geopolitical and regulatory risks. With India s growth potential and favourable ties with the West, investors are turning to Indian companies despite their smaller market cap and revenue compared with China s tech firms.
By Ashutosh Joshi India’s consumer technology stocks are on a tear this year, handsomely beating their larger rivals in China and widening the divergence between two of the world’s largest equity markets.
India's consumer technology stocks are on a tear this year, handsomely beating their larger rivals in China and widening the divergence between two of the world's largest equity markets.
India s consumer tech stocks are on a rise this year. Moreover, these stocks are beating their larger rivals in China and boosting India s equity markets