On Thursday this small-cap stock jumps more than 5% after the company signed a MoU with the government of Uttarakhand. The stock has delivered 47% returns in six months and 50% returns in YTD.
The stock price has held at a high level because of strong and rising volume that is more than usual when compared to the prior day and week. The stock is currently trading above both its 200-day moving average and its 50-day moving average.
The company has a market valuation of Rs. 8,215 Cr., making it a small-cap. On Thursday stock closed 5.4% up at Rs. 411.50 on NSE, which is 2.6% down from the 52-week high
According to the company filing, Mahindra Holidays and Resort India Ltd has signed a Memorandum of Understanding (MoU) with the Government of Uttarakhand to establish and develop Club Mahindra Resort in the state of Uttarakhand.
The estimated investment for the development of Club Mahindra Resort is expected to be about Rs. 1,000 Cr, to be made in the next few years.
As per the company filing, total revenue rose by 2.3% YoY from Rs. 637.02 Cr in Q1 FY23 to Rs. 651.82 Cr in Q1 FY24 and The company reported a net profit of Rs. 0.89 Cr in Q1 FY24 against the profit of Rs. 29.82 Cr in Q1 FY23.
As of June 2023, promoters hold 66.95%, FIIs hold 5.24%, DIIs hold 8.29% and Public hold a 19.52% stake in the company.
A resort and casino company that manages timeshares is called Mahindra Holidays & Resorts India Ltd. Holiday Club Resorts Oy (HCRO) and Mahindra Holidays and Resorts India Limited (MHRIL) are part of the business’ operating section. From the HCRO section, it makes the most money.
Written by Sheshadri N
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact firstname.lastname@example.org
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!