Mahindra Holidays rallies over 5% on stake sale in Austrian hotel companies

MUMBAI: Shares of Mahindra Holidays & Resorts surged higher in lackluster market after it divested stake in two Austria hotel companies BAH Hotelanlagen AG and MHR Hotel Management GmbH.

The company, in a filing to stock exchanges, said: “The existing arrangement for room inventory will continue between BAH Hotelanlagen AG (which has a hotel property "Bon Alpina" in Innsbruck, Austria) and the Company. Accordingly, Club Mahindra members can continue to avail the room inventory in Bon Alpina.”

At 10:10 a.m.; the stock was at Rs 260.50, up 3.78 per cent, on the BSE. It touched a high of Rs 264.75 and a low of Rs 251 in trade today.