New-Age Tech Stocks Too Expensive? Market Veteran Ajay Bagga Flags Valuation Risk

New-age technology stocks are back in focus after stronger-than-expected earnings from several companies beyond frontline names like Zomato and Swiggy. Stocks such as Nykaa and Honasa Consumer (Mamaearth) have also shown signs of recovery, prompting investors to reassess opportunities in the broader tech basket. However, market expert Mr. Bagga has urged caution, saying current valuations are already pricing in several years of future growth. He warned that execution must remain near-perfect, as even a small miss could hurt investors. He also flagged concerns around continuous fund-raising, survivability risks, and the possibility of a major correction in global tech markets over the next two years. While a few winners may emerge as long-term leaders, the expert believes the risk-reward equation for retail investors is not very favourable at current levels.