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MAKEMYTRIP LIMITED

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Paytm, MakeMyTrip, Infosys offer to help India with COVID vaccine bookings

06/10/2021 | 07:30pm EDT

BENGALURU, June 10 (Reuters) - Paytm, Infosys and MakeMyTrip are among companies seeking approval in India to provide online COVID-19 vaccine bookings, the head of the government's tech platform said, as the country tries to make it easier for its huge population to book shots.

The government relaxed rules last month to potentially allow third-party apps to offer vaccine bookings and has taken back control of procurement from states following delays and shortages. It also faced initial problems with its own vaccine booking platform.

Around 15 state agencies and private companies, which also include Indian healthcare giants Apollo and Max, and online pharmacy 1mg, have asked to be allowed to offer vaccine bookings, R.S. Sharma, head of the government's panel managing the CoWIN vaccination registration platform, told Reuters.

Softbank-backed digital payments app Paytm has more than 100 million monthly active users and MakeMyTrip has 12 million. Their popularity is seen providing more options to Indians looking to book their COVID-19 shots, particularly if they are struggling with an unfamiliar government platform.

"It will work in favour of the country, the union of all the entities is better than just one individual platform," Sharma said.

MakeMyTrip CEO Rajesh Magow said the company wanted to help people book their vaccination slots. 1mg said it was waiting for government approvals. Apollo declined to comment, while Paytm, Infosys and Max did not respond to Reuters queries.

Only 3.5% of India's 1.3 billion population has been fully immunised against COVID-19 and health officials say the pace will have to ramp up to avoid further deadly surges of the virus, like the one that swept the country in the spring.

While much will depend on a pick up in scarce vaccine supplies, experts say more booking options should help. Several software developers have already been using publicly available coding for the CoWIN platform to create tools that send Telegram alerts to help people book slots.

"Right now, even if you find a slot using alerts, you have to still go to the government website and follow many steps. Companies will be able to give a better user experience compared to CoWIN," said Berty Thomas, a software developer who had designed Telegram alerts for notifying people about slots.

Paytm too has enabled a notification feature on its app.

Sharma said vaccine supplies should improve going forward and praised the CoWIN platform, saying at least three African nations - Zambia, Nigeria and Malawi - had enquired about using it for their own vaccination drives.

"We will give them the portal free of cost and they can customize. This is highly scalable," said Sharma. (Reporting by Uday Sampath in Bengaluru and Aditya Kalra in New Delhi Editing by Sanjeev Miglani and Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO HOSPITALS ENTERPRISE LIMITED -1.22% 4028.4 Delayed Quote.69.03%
INFOSYS LIMITED 0.19% 1605.6 Delayed Quote.27.61%
MAKEMYTRIP LIMITED -1.70% 28.075 Delayed Quote.-3.28%
SOFTBANK GROUP CORP. -4.84% 6745 End-of-day quote.-16.29%
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Financials (USD)
Sales 2022 374 M - -
Net income 2022 -44,0 M - -
Net cash 2022 266 M - -
P/E ratio 2022 -69,7x
Yield 2022 -
Capitalization 2 991 M 2 991 M -
EV / Sales 2022 7,29x
EV / Sales 2023 3,83x
Nbr of Employees 3 256
Free-Float 45,9%
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Number of Analysts 6
Last Close Price 28,56 $
Average target price 33,00 $
Spread / Average Target 15,5%
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Managers and Directors
Rajesh Magow Group Chief Executive Officer & Director
Mohit Kabra Group Chief Financial Officer
Deep Kalra Group Executive Chairman
Aditya Tim Guleri Independent Director
Jian Zhang Liang Independent Director
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