In recent weeks, there has been a surge in new-age tech stocks in India, with companies like Zomato and MapmyIndia among the biggest gainers. This trend is driven by several factors, including increased demand for online services and growing investor interest in the Indian technology sector.
Zomato, a food delivery and restaurant aggregator platform, has seen a significant increase in its stock price in recent weeks. The company went public in July 2021 and has since seen a surge in demand for its services, as more people order food online due to the pandemic. Zomato’s stock price has risen by more than 25% in the past week, making it one of the biggest gainers in the Indian stock market.
MapmyIndia, a digital mapping and location-based services company, has also seen a surge in its stock price in recent weeks. The company has been gaining traction in the Indian market, with its mapping and navigation services being used by several government agencies and private companies. MapmyIndia’s stock price has risen by more than 50% in the past week, making it one of the biggest gainers in the Indian stock market.
Other new-age tech companies that have seen a surge in their stock prices include Paytm, India’s largest digital payments platform, and Policybazaar, an online insurance aggregator platform. Both companies have benefited from increased demand for digital services and growing investor interest in the Indian technology sector.
Overall, the surge in new-age tech stocks in India reflects the rapid growth and potential of the country’s technology sector. As more people adopt digital services and as technology continues to transform various industries, new opportunities are emerging for innovative companies to grow and succeed.
Byju’s: This edtech company offers online learning solutions for students of all ages. Byju’s has seen a surge in demand for its services during the pandemic, as more students have been learning from home. The company has raised significant funding from investors and is valued at over $16 billion.
Flipkart: This e-commerce platform is one of the largest in India and has seen significant growth in recent years. In 2018, Walmart acquired a majority stake in the company, which has helped it to expand its reach and invest in new technologies like artificial intelligence and machine learning.
Ola: This ride-hailing platform is one of the largest in India, with over 2 million drivers and 200 million users. The company has also expanded into other areas like food delivery and electric vehicle manufacturing.
PharmEasy: This online pharmacy platform has seen a surge in demand during the pandemic, as more people have been avoiding physical stores. The company has raised significant funding from investors and has expanded its services to include diagnostic tests and doctor consultations.
These companies, along with others in the Indian tech sector, are attracting significant investment and attention from both domestic and international investors. The growth of the sector reflects the potential of the Indian economy and the increasing adoption of technology across various industries.