A few of the recently listed companies are seeing big cuts in trade today. Listed consumer tech names are under severe pressure today, and at least some of them have not really done well since the time they have been listed.
Paytm is moving around with a cut of around 10 to 13 percent in the last 15-20 odd minutes. Fino Payments Bank isn't doing well either and is down as much as 12 percent. PB FinTech and Zomato is also down around 7 to 8 percent and not as much of a loss for something like a Sapphire Foods India or Nykaa.
However, we still see a lot of weakness when it comes to Paytm and Fino Payments as both are down anywhere between 30 to 35 percent. PB FinTech is still up as much as 25 percent from its issue price.
Zomato and Nykaa are the two issues that have maintained a certain amount of returns, which is over 85 percent at this point in time. Sapphire Foods India is absolutely flat. So, it is a mixed view out there, but at least for today's day of trade, a lot of pressure for some of these newly listed names.
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