10 Best Indian Stocks to Buy According to Billionaires

6. MakeMyTrip Limited (NASDAQ:MMYT)

Number of Billionaires: 7

Billionaire Holdings: $98,924,260

MakeMyTrip Limited (NASDAQ:MMYT) is an online travel company offering various services and products, including air and bus ticket bookings, holiday packages, hotel bookings, foreign currency exchange, and visa processing services. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.

The stock has returned 39% over the past 12 months, driven by a surge in gross bookings value, the company’s strong dedication to innovation, and investments in cutting-edge technologies to enhance customer experience. An increase in domestic tourism in India and the government’s investments in travel infrastructure bode well for MakeMyTrip Limited (NASDAQ:MMYT)’s further growth ahead.

India’s GDP is forecast to grow at 6.7% for the next two fiscal years. The government has undertaken significant investments to improve roads, airports, and railways to make travel more convenient and reliable. Furthermore, with rising incomes, an increasing number of Indians are also beginning to explore international destinations, besides domestic tourism.

According to Insider Monkey’s database for Q4 2024, 28 hedge funds held a stake in the company, an improvement from 22 at the end of the third quarter. Marshall Wace LLP was the largest investor in MakeMyTrip Limited (NASDAQ:MMYT), with holdings valued at approximately $107 million. According to reports, APG Asset Management N.V. recently acquired a new position in MMYT, buying shares worth $28.2 million during the fourth quarter.

Moreover, 7 billionaires held a stake in MakeMyTrip Limited (NASDAQ:MMYT), with combined holdings of nearly $99 million, making it one of the best Indian stocks to buy now.