New age tech stocks Zomato, Paytm and PolicyBazaar buzzing in early trade as investors hope for a tech-friendly Union Budget

• New age tech stocks like Zomato, Paytm and PolicyBazaar have reported nearly a 5% spike in their share prices.
• PolicyBazaar was the biggest gainer with over 6% increase in its market cap in early trade.
• Paytm was the second biggest gainer of all the tech startup stocks and is currently sitting on a market cap of $8.3 billion

All publicly-listed tech stocks — which lost a major chunk of their market value over the last month — have been gaining since the morning of February 1 in anticipation of a more tech-friendly budget.

New age tech stocks like Zomato, Paytm and PolicyBazaar have reported nearly a 5% spike in their share prices. PolicyBazaar was the biggest gainer with over 6% increase in its market cap in early trade.

Paytm was the second biggest gainer of all the tech startup stocks, in early trade, which is still significantly lower than the $19.9 billion valuation at which it had raised its initial public offering (IPO) at.

Note: Share price as on 10:00 AM, February 1
Source: BSE

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