Skip to contentHome page Seeking Alpha - Power to InvestorsMar. 04, 2026 10:55 AM ETMakeMyTrip Limited (MMYT) StockDisruptive Investor5.47K FollowersCommentsSummaryMakeMyTrip is upgraded from 'Sell' to 'Buy' after a 55% correction, offering an attractive entry point for long-term investors.MMYT commands a dominant 55-60% market share in India's online travel agency sector, well-positioned to benefit from India's 12-15% travel industry CAGR.Diversified revenue streams—air, hotels, bus, and corporate travel—support growth; bus ticketing led with 27.3% YoY growth in FY26 YTD.Despite a premium 31.2x forward EV/EBITDA, MMYT's strong balance sheet, margin expansion, and sector tailwinds justify a medium- to long-term bullish outlook.Gary Yeowell/DigitalVision via Getty ImagesInvestment OverviewI had last covered MakeMyTrip Limited (MMYT) stock on March 12, 2025, with a “Sell” rating. I opined that MakeMyTrip has ample headroom for growth in the Indian travel and tourism industry. However, valuations were stretched, and aThis article was written byDisruptive Investor5.47K FollowersAnalyst with interest in various asset classes for portfolio diversification. My field of expertise includes equities, precious metals, commodities and cryptocurrencies. Special interest and love for economics.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments