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  • Writer's pictureRealFacts Editorial Team

India Travel Stock Posts Incredible Growth

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Although long-standing giants like Expedia (EXPE), Airbnb (ABNB), (BKNG), and TripAdvisor (TRIP) have traditionally dominated the travel booking industry, a newcomer from India has recently captured the attention of mutual fund investors. This emerging company is MakeMyTrip, trading under the ticker MMYT. Matthew Galgain, Investors Business Daily author wrote, “MakeMyTrip landed a spot on last month's list of new buys by the best mutual funds. Once again alone among its peers, the stock also made this month's list.”

Over the past year, MakeMyTrip's stock has experienced remarkable growth, surging by over 188%. Its share price has soared from a modest $25 per share to its current valuation of over $73 per share. The company, with its three prominent brands —MakeMyTrip, Goibibo, and Redbus— has been at the forefront of revolutionizing online travel bookings in India. MakeMyTrip offers a wide range of services encompassing flights, hotels, homestays, holiday packages, cab rentals, bus bookings, and train reservations. Moreover, it has introduced new business divisions catering to corporate travel needs and providing a complete travel solution for both employers and employees. Additionally, it offers a comprehensive travel suite tailored for travel agents.

Thanks to these diverse features, MakeMyTrip has achieved an impressive average earnings growth rate of 302% over the last three quarters. This remarkable trend is anticipated to persist, with analysts projecting a staggering 189% earnings growth, reaching 14 cents per share, during the company's upcoming earnings report scheduled for May 15th.

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