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Mahindra Holidays takes a dip on poor Q1 performance

Capital Market / 10:30 , Jul 27, 2010

Mahindra Holidays & Resorts India tumbled 6.03% to Rs 512.30 at 10:30 IST on BSE, extending losses for the third day, after net profit slumped 60.6% to Rs 13.29 crore on 23.9% fall in net sales to Rs 89.91 crore in Q1 June 2010 over Q1 June 2009.

The company declared its results during trading hours on Monday, 26 July 2010, when the stock declined 2.46% to Rs 545.20.

Meanwhile, the BSE Sensex was up 16.85 points, or 0.09% at 18,036.90.

On BSE, 14,871 shares were traded in the counter as against an average daily volume of 14,927 shares in the past one quarter.

The stock hit a high of Rs 523 and a low of Rs 503 so far during the day. The stock had hit a record high of Rs 574 on 23 July 2010 and a 52-week low of Rs 310 on 26 August 2009.

The stock has fallen 9.32% in just three trading sessions from a recent high of Rs 564.95 on 22 July 2010.

The mid-cap stock had outperformed the market over the past one month till 26 July 2010, gaining 4.86% as compared to the Sensex's return of 2.54%. It had also outperformed the market in the past one quarter, rising 11.92% as compared to the Sensex's 1.55% rise.

The company has an equity capital of Rs 84.23 crore. Face value per share is Rs 10.

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