MakeMyTrip is evaluating a domestic India listing through the Indian Depository Receipts mechanism, a structure that would let the Nasdaq-listed travel platform tap local investor capital without shifting its domicile or primary exchange. The IDR route, established under Indian securities law, allows foreign-incorporated companies to issue receipts backed by their underlying shares to Indian retail and institutional investors, bypassing a full re-domiciliation. For MakeMyTrip, which is incorporated outside India despite deriving the bulk of its revenue from Indian travelers, the structure offers a way to deepen engagement with a domestic investor base that already uses its platform. The move would expand the shareholder pool to include Indian mutual funds, retail participants, and domestic institutions that face restrictions on direct foreign equity holdings. Whether MakeMyTrip proceeds depends on regulatory approvals and market conditions, and no timeline has been confirmed. The IDR market has seen limited uptake historically, making execution and liquidity depth the variables most worth tracking if the company moves forward.
The Indian government has launched an OFS to sell up to 6.5% of its LIC stake, opening for non-retail investors on August 4, 2026, at a floor price of Rs 382 per share, about 11% below Monday's close. The discounted offering is likely to pressure LIC shares in the near term as supply increases sharply.
More than a dozen major Indian companies including Bharti Airtel, ONGC, Pidilite, Nykaa, DLF, and Ather Energy report April-June 2026 earnings on August 4. Results span telecom, energy, consumer goods, real estate, and EV sectors, giving markets a broad read on corporate health mid-earnings season.
Amazon shares hit a new all-time high Monday, pushing its market cap above $3 trillion following a sustained post-earnings rally. The milestone places Amazon among the very few companies globally to reach this valuation, with investor focus on AWS and advertising growth driving the move.
Sensex Gains 500 Points as Oil Falls on Iran Talks
The Sensex rose around 500 points and the Nifty crossed 24,500 on Monday after Donald Trump announced talks with Iran, pushing oil prices lower. IndiGo, ITC, FMCG, and metals led the gains as cheaper crude eased cost and inflation concerns.
