New-Age Tech Stocks: Insurtech Sell-Off Drags Combined M-Cap Down By $3.6 Bn This Week

New-age tech stocks saw a bearish week, with a sharp sell-off in PB Fintech and Turtlemint following IRDAI’s proposed commission caps overshadowing gains in Capillary Technologies and Zelio E-Mobility. Turtlemint plunged 34.97%, while Policybazaar parent PB Fintech lost 33.02% during the week. The declines came as investors assessed the potential impact of lower insurance commissions on the companies’ revenue and profitability.