India's Mahindra Holidays reverses course to drop after Q2 report

Mahindra Holidays and Resorts India

02/11/2022 09:55

** Mahindra Holidays and Resorts India's shares  MAHH.NS 
reverse course to drop after the resort chain reports 31% drop
in Q2 profit
    ** Shares were marginally higher ahead of the report, but
dropped as much as 2.7% to 275.30 Indian rupees post the results
    ** Co's profit hurt by higher expenses and a fall in revenue
at its European operations
    ** More than 759,000 shares traded by 0942 GMT, 1.6 times
their 30-day moving avg of over 474,800 share
    ** Two analysts cover MAHH, with one rating it "buy" and the
other "hold"; their median PT is 285.50 rupees - Refinitiv data
    ** Stock last down 1.7%, cutting YTD gains to ~48%, but
still outperforming the Nifty Services Sector index's
 .NIFTYSER  1.7% gain
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))