Mahindra Holidays & Resorts opened the day at Rs.251, its intra day low point and soon zoomed up to Rs.264.75, its high point of the day and currently hovers around Rs.261, up 4%.

The stock is up on the news which the company announced yesterday after market closing – the company has divested stake in two Austria hotel companies - BAH Hotelanlagen AG and MHR Hotel Management GmbH.  Further, the Company has informed that 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. No financial detail of this stake divestment is given.