Paytm: Paytm’s stock has experienced a significant decline and is trading at its lowest level ever. This downturn follows the Reserve Bank of India’s directive to halt Paytm Payments Bank’s key services from February 29 due to non-compliance and supervisory issues. The share price of Paytm, part of One 97 Communications, plunged nearly 85% from its November 2021 IPO price of ₹2,150, touching a new low at ₹325.30. This steep fall was exacerbated by notices from the Enforcement Directorate and a downgrade by Macquarie, which reduced its target price from ₹650 to ₹275. Paytm’s shares have dropped 48% in 2024 and over 64% in the last three months, raising concerns about its business model and customer retention.
Zomato: In contrast, Zomato has seen its share price approach its all-time high, driven by robust financials and solid business growth. Reporting its third consecutive profitable quarter in October-December 2023, Zomato’s stock reached a 52-week high of ₹159.20, a significant rise from its July 2021 IPO price of ₹76. The stock has increased over 30% in the last three months and an impressive 211% over the past year. This growth is attributed to strong performance in its various segments, including a notable increase in revenue from Blinkit.
Nykaa: Nykaa’s shares are trading below their adjusted IPO price of ₹187.25 (considering the 5:1 bonus issue). Despite a strong market debut in 2021, Nykaa’s current share price hovers around ₹150. The company, however, reported a significant 98% increase in net profit in Q3FY24, buoyed by festive and wedding season demand. With revenues rising 22% and a consistent market share, Nykaa’s performance has been commendable in a challenging market.
PB Fintech and EaseMyTrip: PB Fintech, parent of Policy Bazaar and Paisa Bazaar, still struggles to reach its IPO price two years after listing, despite a recent surge to a 52-week high of ₹1,050. Initially listed at a premium, the stock had fallen to a low of ₹356 but has shown recovery signs. Meanwhile, EaseMyTrip’s shares have declined over 73% since its March 2021 listing. Despite a 17% gain in the past three months and a 22% year-to-date increase, the stock remains significantly below its IPO price, highlighting the volatile nature of these new-age tech stocks.
