Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of MakeMyTrip Limited (NASDAQ:MMYT) were soaring today, up as much as 13% after a strong earnings report earlier in the week, and optimism about a change in India's political leadership set to begin Monday.

So what: The Indian online travel merchant jumped 20% on Wednesday after its $0.01 per-share loss was narrower than the consensus at $0.05 per share. Revenues, meanwhile, jumped 30.7%, to $28.5 million, well ahead of estimates at $24.5 million. Guidance was also better than expected. Today's jump was a bit curious, however, as yesterday shares only edged up about 2%. 

Now what: Indian stocks have been riding higher, in general, this week, following the election of Narendra Modi as Prime Minister last week. Modi is seen as seen as being friendly toward business and the free market, and will be sworn into the office on Monday, a market holiday in the U.S. Shares of MakeMyTrip finished up 5% after a mid-day spike on a volatile trading day, as today's gains seem to be driven by a combination of the travel company's strong earnings report, and excitement for the Modi administration.

Will this stock be your next multi-bagger?
Give me five minutes, and I'll show how you could own the best stock for 2014. Every year, The Motley Fool's chief investment officer handpicks one stock with outstanding potential. But it's not just any run-of-the-mill company; it’s a stock perfectly positioned to cash in on one of the upcoming year's most lucrative trends. Last year, his pick skyrocketed 134%. And previous top picks have gained upwards of 908%, 1,252%, and 1,303% during the subsequent years! Believe me, you don't want to miss what could be his biggest winner yet! Just click here to download your free copy of "The Motley Fool's Top Stock for 2014" today.

Jeremy Bowman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.