Mahindra Holidays & Resorts, which had closed yesterday at Rs.288.45, opened higher today at Rs.294 and went on to hit a new high at Rs.313.50.
The stock price surged on its commentary on an improved outlook in FY23. The company expects the business environment to improve and is well placed to benefit from the opportunities that it presents.
The company had ended Q1FY23 with a PAT of Rs.30 crore v/s loss of Rs.21 crore (YoY).
Given its adequate inventory, good liquidity, the company is expected to benefit as the hospitality and leisure travel industry grows.