Macquarie removes MakeMyTrip stock from the Asia ex-Japan Select List

LootboxPhobia · 2026-03-10T00:28:46+00:00

Macquarie has removed MakeMyTrip from its Asia Select list, as the stock has fallen 25% since being added in December 2025. The surge in airline fuel prices has put pressure on its international airline business, but domestic travel activity is expected to boost hotel business profits. Macquarie maintains a downward rating, with the stock price under pressure in the short term.

LootboxPhobia

2026-03-10 00:28:46

Abstract generation in progress

Investing.com - Macquarie will remove MakeMyTrip (NASDAQ:MMYT) from its Asia Pacific Select List on Monday. The stock has fallen 25% since being added to the list on December 8, 2025.

The company stated that spot prices for jet fuel have surged approximately 80% above the average level for the December quarter. The Middle East accounts for about half of outbound tourism from India, with roughly 40% for leisure travel and 15% for business travel.

MakeMyTrip’s international airline business accounts for about 30% of ticket bookings, with a higher share of around 50% in total airline ticket bookings. Overall, this business segment makes up approximately 25% of total bookings.

Macquarie noted that due to commoditized commission rates, the airline segment contributes less to revenue. An increase in domestic travel activities will benefit MakeMyTrip’s higher-margin hotel business segment.

Macquarie maintains an Outperform rating on the stock. The company stated that it expects the stock to remain under pressure in the short term due to the impact of rising jet fuel prices and geopolitical factors.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.