That compares with an 11% gain in the Nifty 50 index. The tech-heavy Nasdaq has rallied 15% in this period, while the NYSE FANG+ surged 26%. The ET Ecommerce NonProfi table index, comprising stocks that are yet to make money, gained 30% in three months and outperformed the ‘Profi table’ index which climbed just about 16%.
Nykaa was an underperformer this year with 5% negative returns. Analysts are concerned about its ability to expand its fashion segment profi tably.
Tight cost control and narrowing losses helped beaten-down new-age stocks rebound over the past three months after the fastest pace of increases in US funding costs in nearly half a century caused a valuation implosion for most such highgrowth companies last year. The ET E-Commerce index, which plunged 53% in 2022, has recovered 25% in the past three months.
That compares with an 11% gain in the Nifty 50 index. The tech-heavy Nasdaq has rallied 15% in this period, while the NYSE FANG+ surged 26%. The ET Ecommerce NonProfi table index, comprising stocks that are yet to make money, gained 30% in three months and outperformed the ‘Profi table’ index which climbed just about 16%.
Cartrade Tech, PB Fintech, Delhivery, Zomato, and Paytm are part of the ET Non-Profi table index. Zomato rallied 46% in the past three months, leading the list of advancing e-commerce stocks.
Most analysts reiterated bullish calls and raised price targets after the food aggregator saw its consolidated loss further narrow. Paytm rose 32% after analysts said customer growth, retention, and cross-selling should drive performance. Just Dial gained 24% and CarTrade Tech 22%.
Nykaa was an underperformer this year with 5% negative returns. Analysts are concerned about its ability to expand its fashion segment profi tably.
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Monday, 03 Jul, 2023
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Foreign portfolio investors (FPIs) looking to avoid making greater disclosures are likely to be given a shorter deadline to pare their investments than what was originally planned by the capital market regulator.
India’s wearables market is expected to end 2023 as the world’s largest and is set to prop up the global demand for smartwatches and hearables, at a time when North America and China are showing signs of saturation amid macroeconomic headwinds.
Foreign portfolio investors (FPIs) pumped Rs2.9 lakh cr into Indian equities on gross basis in June, a monthly record, surpassing the Rs2.55 lakh cr they invested in December 2020.
Monday, 03 Jul, 2023
Disclosure Norms: FPIs may Get 3 Months to Cut Exposure
India Set to Be No 1 Wearables Market in 2023
FPI Deluge: Foreign Investors Buy Big in India
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