Mahindra Holidays & Resorts India rises on subscribing balance stake in Great Rocksport
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Mahindra Holidays & Resorts India is currently trading at Rs. 284.10, up by 0.30 points or 0.11% from its previous closing of Rs. 283.80 on the BSE.
The scrip opened at Rs. 280.00 and has touched a high and low of Rs. 288.00 and Rs. 278.10 respectively. So far 60315 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 303.85 on 15-Sep-2022 and a 52 week low of Rs. 185.55 on 04-Jan-2022.
Last one week high and low of the scrip stood at Rs. 303.85 and Rs. 276.50 respectively. The current market cap of the company is Rs. 5714.55 crore.
The promoters holding in the company stood at 67.20%, while Institutions and Non-Institutions held 14.57% and 18.22% respectively.
Mahindra Holidays & Resorts India (MHRIL) has subscribed to balance 3,25,547 equity shares of Great Rocksport (Rocksport) for a total cash consideration of Rs 7.99 crore on September 15, 2022 and now the Company’s shareholding in Rocksport has gone up to 23.42% of the paid-up share capital of Rocksport.
It is expected that the investment in Rocksport will increase customer engagement avenues for the Company, whereby the Company and Rocksport can engage in multiple formats for its members especially within resorts of the Company. Further, it is expected that there will be cross selling of products by both parties for their growth and benefits.
Mahindra Holidays & Resorts India (MHRIL), a part of Leisure and Hospitality sector of the Mahindra Group, offers quality family holidays primarily through vacation ownership memberships and brings to the industry values such as reliability, trust and customer satisfaction.
