HSBC Global Research released a report, covering TRIP.COM-S (09961.HK) -17.200 (-3.713%) Short selling $195.91M; Ratio 13.432% (TCOM.US) , which will sell its stake in MakeMyTrip. Based on the latest stock price, the pre-tax proceeds from the sale were estimated to approximate USD2.5 billion. After the buyback proposal is completed, Trip.com's stake in MakeMyTrip will reduce from 45% to about 20%, but it will remain the largest minority shareholder of MakeMyTrip and is committed to supporting its development in India.Related NewsG Sachs Lists 'CN Prominent 10', Incl. TENCENT & BABA-WThe broker expects that Trip.com will use part of the proceeds from the MakeMyTrip sale, combined with buybacks and dividends, to improve shareholder returns. It believes that the proposed sale of the MakeMyTrip stake will help boost investor confidence in the group and structurally improve its shareholder-return capacity.The broker reiterated its Buy rating on TRIP.COM-S with a target price of USD78. Due to the group's domestic leadership and expanding overseas business, it remains the broker's top pick in China's aviation and travel sector. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-19 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)