10 Best Indian Stocks for Next 10 Years

3) MakeMyTrip Limited (NASDAQ:MMYT)

Number of Hedge Fund Holders: 22

MakeMyTrip Limited (NASDAQ:MMYT) is an online travel company, which sells travel products and services in India, the United States, Southeast Asia, Europe, and internationally.

Market experts opine that MakeMyTrip Limited (NASDAQ:MMYT)’s diversified travel offerings and strategic focus on different travel segments should continue to act as critical tailwinds. The relaunch of the MMT Black loyalty program is focused on enhancing customer loyalty. MakeMyTrip Limited (NASDAQ:MMYT) remains optimistic regarding the Indian travel market’s future, considering strong economic growth and a cultural pivot to more vacations.

While the company’s accommodation business and holiday packages business should continue to demonstrate strong growth, its investments in AI, like chatbot and EMI feature for international flights, will further enhance user experience. MakeMyTrip Limited (NASDAQ:MMYT) highlighted that the corporate travel business and UAE operations continue to expand, with higher customer counts and successful marketing campaigns.

MakeMyTrip Limited (NASDAQ:MMYT) focuses on expanding its revenue share from the strong-performing international outbound travel market. In H2 2024, the company expects an improvement in domestic air market supply. In the recent earnings call, MakeMyTrip Limited (NASDAQ:MMYT) mentioned that it retains more than 30% market share in the domestic air travel segment.

Analysts at Citigroup upped their price target on the shares of MakeMyTrip Limited (NASDAQ:MMYT) from $93.00 to $115.00, giving a “Buy” rating on 24th July. Insider Monkey’s Q2 2024 database revealed that 22 hedge funds held stakes in MakeMyTrip Limited (NASDAQ:MMYT).