Cyient DLM | We have also seen an increase in its premium in the grey market, to 52-57 percent from 45-49 percent eariler, especially ahead of its debut on Monday, analysts said on anonymity.
Indian tech unicorns such as Paytm, Zomato, and PB Fintech have rebounded from a global selloff last year and have gained between 28% to 69% this year, adding over $4.7 billion in market value. These companies have focused more on profitability, leading them to exit businesses that showed little promise and cut costs. Even though the global concerns remain, the sector has regained interest as pandemic-safe investments due to its potential in emerging technologies such as artificial intelligence. Despite their gains this year, some shares still trade below their IPO price.
Food delivery platform Zomato Ltd. and Policybazaar operator PB Fintech Ltd. have surged 28% and 47%, respectively, adding over $1 billion each to their market valuations.
Paytm s parent company, One 97 Communications, has seen a 69% surge in shares, adding $2.7bn in market value, after improving profitability ahead of schedule. Other Indian tech firms, including Zomato and PB Fintech, have also seen significant market value growth
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