Mahindra Holidays & Resorts step down arm buys stake in Holiday Club Resorts

India Infoline News Service | Mumbai | January 11, 2017 18:02 IST

The scrip opened at Rs 394 and has touched a high and low of Rs 408.95 and Rs 392 respectively.

Mahindra Holidays & Resorts India Ltd.
Mahindra Holidays & Resorts has informed BSE that the company, through Covington S.a.r. I, Luxembourg (Covington), its step down subsidiary, has increased its stake in Holiday Club Resorts Oy, Finland (HCR) by acquiring additional 6.33% stake in the share capital of HCR and consequently, its stake in HCR has been increased from 85.61% to 91.94%.

Stock view:

Mahindra Holidays & Resorts India Ltd is currently trading at Rs 399.75, up by Rs 9.85 or 2.53% from its previous closing of Rs 389.9 on the BSE.

The scrip opened at Rs 394 and has touched a high and low of Rs 408.95 and Rs 392 respectively. So far 47192 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3461.53 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 513.3 on 26-Aug-2016 and a 52 week low of Rs 322.4 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 407.3 and Rs 388 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 15.23 % and 9.77 % respectively.

The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

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