Ola, Swiggy among top losers in H1CY25

Be selective about new-age stocks in long term, say analysts

- NIKITA VASHISHT

Most new-age stocks turned out to be wealth destroyers in stock markets in the first half of 2025 (H1CY25). Shares of Ola Electric Mobility, for instance, plunged nearly 50 per cent during this period while those of Swiggy, PB Fintech, Paytm, and Eternal (Zomato) crashed between 5 per cent and 26.5 per cent, ACE Equity data shows.

FSN E-commerce, the parent company of Nykaa, was the only stock gainer, rising 27.26 per cent in H1. By comparison, the benchmark Nifty 50 yielded returns of 8 per cent while the Nifty midcap index rose 4.42 per cent and the Nifty smallcap 1.62 per cent. Expensive valuation, relative to broader markets, and low profit visibility going ahead forced investors to dump the stocks, reason analysts. They suggest investors stay selective about new-age stocks with a long-term view.

Still expensive?

Vinod Nair, head of research at Geojit Investments Limited, links the recent underperformance in new-age stocks to the disconnect between their valuations and growth outlook.