Stocks of new-age business companies like Paytm (One97), Zomato and Cartrade Technologies rebounded on Wednesday from their 52-week lows in the previous session. Nykaa and FINO Payments hit fresh lows. These stocks began trading on bourses BSE and NSE in 2021.

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Paytm shares finished the day up 1.2 percent at Rs 861.9 on BSE, having risen to as high as Rs 883 during the session. On Tuesday, the One97 stock had hit a 52-week low of Rs 840.1.

Zomato shares rose 2.7 percent to settle at Rs 85. During the sesison, the stock rose to as high as Rs 87. On Wednesday, the food aggregator's stock had slipped marginally below its issue price of Rs 76.

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CarTrade gained 0.6 percent for the day to Rs 631.5. At the current level, it is 3.4 percent above its 52-week high, hit on Tuesday.

Among other stocks in this category, PB Fintech and MapmyIndia continued to stay above their lows hit in January.

EXPLANED: Why investors dumped Zomato, Paytm shares

New age company stocks have taken a `hit in the recent past, mirroring the trend seen on the Nasdaq, where investors suddenly lost appetite for highly valued tech firms.

Independent market expert Shankar Sharma has time and again warned against investment in startup shares.

He told CNBC-TV18 in January that one should not be surprised if they fall 80-90 percent by the end of 2022.

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(Edited by : Sandeep Singh)

First Published:Feb 16, 2022 3:52 PM IST