Totally missed this. I expect MakeMyTrip to do well as more and more Middle class families take to Air Travels and Vacations outside their Hometowns.
Shares of MakeMyTrip.com (MMYT) leapt 89% Thursday in the Indian online travel firm's Nasdaq debut, marking the best-performing U.S. public stock offering in nearly three years.
India's No. 1 travel site by bookings priced 5 million shares at $14 each, raising a total of $70 million. The price came in at the high end of the $12 to $14 range expected by Wall Street. Shares closed at 26.45.
"It's pretty obvious that India is an emerging market that's typified by fast opportunities," said Standard & Poor's equity analyst Scott Kessler. "One of the significant opportunities is the continued growth of the consumer class.
"As online travel becomes even more global than it already is, we think companies well-positioned in the Indian market are likely to benefit as a result."