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Home >Markets >Stock Markets >Mahindra Holidays shares up 65% in a year. HDFC Securities sees more upside

Mahindra Holidays & Resorts stock has been in the gaining momentum since the past year as the leisure and hospitality stock has surged over 65% in one year despite the covid-19 pandemic-induced lockdown in the country that restricted travels and vacations. And now that covid cases are declining and the country is unlocking phase-by-phase, domestic brokerage HDFC Securities sees more potential upside in the stock.

In a note, HDFC Securities said that the said stock broke out from the resistance in the month of May 2021, and then showed running correction in the month of June and now in the current month of July, it has resumed the uptrend. It also said that the hotels and hospitality stocks have started showing traction after a long time.

HDFC Securities has a 'Buy' rating on Mahindra Holidays Resorts stock with the target price of 298-340 per share with the time frame of three months and stop loss of 241 apiece.

Indicators and oscillators have also been showing strength in the current uptrend. Stock is placed above medium to long term moving averages, indicating bullish trend on all time frames, the brokerage note said.

On Tuesday, shares of Mahindra Holidays were trading over 5% higher to 299 per share on the BSE.

Mahindra Holidays & Resorts India Ltd. (MHRIL), a part of Leisure and Hospitality sector of the Mahindra Group offers family holidays primarily through vacation ownership memberships. Started in 1996, the company's flagship brand ‘Club Mahindra’ has over 250,000 members, and 100+ resorts in India and abroad.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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