Is the worst over for new-age tech companies? Here's what analysts say

A renewed buying interest in new-age technology companies was seen in the past one month, as investors pinned hopes on improved outlook post the October-December 2022 quarter results (Q3FY23).

Shares of Paytm, FSN e-Commerce Ventures (the parent firm of Nykaa), PB Fintech (parent firm of Policybazaar), and CarTrade Tech surged up to 17 per cent in a month, as against 0.2 per cent rise in the S&P BSE Sensex during this period.

However, analysts sound cautious over sustenance of this strength after companies reported a mixed bag of numbers in Q3FY23. This, they believe, can puncture the rally in the short-term as investors await earnings catch-up.