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Equity Markets Rally: A Promising Start to SAMVAT 2081 on November 1, 2024

Nov 2, 2024 by Sujata 0 Comments #Gains, #strong

Gaurav Garg, Research Analyst at Lemonn Markets Desk

Benchmark indices started the SAMVAT 2081 on a positive note with broad based gains and ended higher in special Diwali muhurat trading session on Friday. Broader Mid and Small caps also posted gains.

Auto stocks stole the show during the special Muhurat trading session for Samvat 2081 on November 2, driven by robust October sales updates. Leading the gains were M&M, Tata Motors, Bajaj Auto, Hyundai Motor, and Maruti Suzuki India, with shares climbing up to 3 percent, outpacing the Nifty 50’s modest increase. M&M stood out, setting a new record with 54,504 SUV sales in October, marking a 25% YoY increase.

All major sectors also ended in gains with Realty, Consumer Durables and Energy leading the pack while Finance and IT lagged.

Strong festive sales updates from automakers eased concerns over the slowdown in festive demand after disappointing Q2 earnings season.

Market focus remains on the earnings announcements. In US, election outcome will be watched next week.

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Consistent Performance: MakeMyTrip Achieves 26.5% Revenue Increase in Q2 FY25

Oct 24, 2024 by Sujata 0 Comments #Growth, #strong

National, October 24, 2024 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2024 as attached herewith and available at  and on our website .

Business & Financial Highlights | Q2 FY25
 

Q2 FY25

($ Million)

 Q2 FY24

($ Million)

 YoY Change (Constant

Currency)
Gross Bookings 2,257.2 1,839.7 24.3%
Revenue as per IFRS 211.0 168.7 26.5%
Adjusted Margin
Air Ticketing 96.0 80.3 21.1%
Hotels and Packages 90.7 75.7 21.4%
Bus Ticketing 27.1 21.8 25.6%
Others 16.4 11.0 51.0%
Results from Operating Activities 26.1 6.7
Adjusted Operating Profit (also

referred to as Adjusted EBIT)

 37.5 28.2
Profit for the period 17.9 2.0

Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,

“We are pleased to have achieved sustained growth in a seasonally slow quarter. Our unwavering focus on innovation, powered by advanced technology to deliver a differentiated customer experience, has been a key driver of this progress. We continue to be positive about the long-term outlook of India’s travel and tourism market and stay committed to further accelerating efforts to expand our supply partnerships and deepen engagement with our customers.”