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.

Tech startup stocks	Gain on 1 February, 2022	Change in share price over last 30 days
Zomato	+4.59%	-33.11%
Paytm	+5.12%	-28.30%
RateGain	+2.86%	+2.18%
MapMyIndia	+0.71%	-24%
Nykaa	+2.94%	-18.51%
PolicyBazaar	+6.75%	-11%
EaseMyTrip	+0.77%	+4.28%
Fino	+0.68%	+3.36%

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

SEE ALSO
Delhi, not Bengaluru, is the startup capital of India, says Economic Survey
Allocation for India's defence may see a nominal increase
The government is expected to announce ₹1.3 lakh crore for railways under the national infrastructure pipeline