ICICI Securities retains Buy on MakeMyTrip, flags non-air share gains
Following June-quarter updates, ICICI Securities retained its Buy rating on MakeMyTrip with a $74 target price, citing resilient travel demand, gains in non-air categories and continued AI investment.
ICICI Securities retained a Buy on MakeMyTrip, citing share gains in non-air travel, resilient demand and AI investment. It also reiterated positive views on Nexus Select Trust, GSK Pharma and Archean Chemical after their June-quarter updates.
Why this matters
The call follows MakeMyTrip's Q1 FY27 report of 6.2% revenue growth and a 65% profit drop, alongside 19.9% gross-bookings growth as Myra 2.0 gained traction.
The retail-company theme is accelerating, up 200086% QoQ.