Mahindra Holidays and Resorts rises up on 1:2 bonus issue

Mahindra Holidays and Resorts India Ltd gained 2.96 percent to Rs 473.20 at the post morning session on BSE after the company recommended 1 bonus issue of share for 2 shares held. On the BSE, 3982 shares were traded in the duration, compared with the average daily volume (ADV) of 1.72 lakh shares in the past one quarter. The stock had hit a high and low of Rs 485.70 and Rs 465.60 respectively, during the day.

The stock had outperformed the market since one month till 19 May 2017, surging 5.74 percent vis-à- vis the 3.85 percent rise in the Sensex. The company has equity capital of Rs 88.78 Cr, face value per share is Rs 10. The company on Friday, further announced that its net profit jumped 4.5 percent to Rs 31.8 Cr, on 26.3 percent rise in total income to Rs 315.7 Cr, in Q4 March 2017 year on year. The company finalized 11 July 2017 to be the record-date for the reason of determining members who is entitled to the bonus shares.

Mahindra Holidays & Resorts India Limited is a part of the leisure and hospitality sector of the Mahindra Group.

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