The new-age companies are present in whatever we do. From a food takeaway on Zomato to buying beauty products on Nykaa via Delhivery, from getting insurance through PolicyBazaar to making investments thanks to PayTM, these new-age companies are a part of collective consciousness. Given these businesses' potentially massive opportunity costs, there is little surprise that mutual funds have also boarded the gravy train. Some might even call it the hype train, depending on your perspective. The patchy past We say hype train because it was in its full steam when these tech-driven companies first went public. This was also pointed out by Dinesh Balachandran , the equity fund manager of SBI Mutual Fund : "There was too much craze surrounding new-age stocks, and people were willing to pay any price. There was no margin of safety for me at those levels.' Then came the reality check. These companies took a collective nosedive soon after their listing on the exchange, wiping out immense investor wealth. But that was then. Striking at the right time One man's loss was another man's gain, and in this case, it was the mutual funds that began investing in these beaten stocks. Fast-forward to the present day, they continue to take a shine to them. Be it Zomato , PolicyBazaar (listed as PB Fintech ) and PayTM ( One97 Communications ), fund houses have started lapping them up as they don't want to miss out on the momentum of these stocks, as you can see in the graphs. In numbers
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