Mahindra Holidays Share Surge 4% Following Top Management changes

Share of Mahindra Holidays and Resorts India Ltd (MHRIL) surged on Friday after the company revealed significant leadership changes in response to the resignation of its Managing Director (MD) and Chief Executive Officer (CEO), Kavinder Singh.

Mahindra Holidays shares reached an intraday high of Rs 465, marking a 14.7% increase from the previous closing price on the National Stock Exchange (NSE). The stock closed 3.58% higher at Rs 419.90.

Kavinder Singh, who played a crucial role in elevating the company to a world-class vacation ownership entity since joining the Mahindra Group in 2014, has decided to step down as the Managing Director and CEO of MHRIL, effective May 16, 2024.

In an official filing with the stock exchange, the company’s board of directors approved the appointment of Manoj Bhat, the current Group Chief Financial Officer (CFO), as the new Managing Director and CEO, effective May 17, 2024.

Additionally, the board sanctioned the appointment of Vimal Agarwal as the CFO, and he will assume the role on May 1. Agarwal, presently the CFO of Mahindra Lifespaces Developers Ltd, is set to transition into his new position from May 1, 2024.

 

Mahindra Holidays key highlights

  • Market Cap₹ 8,440 Cr.
  • Current Price₹ 418
  • High / Low₹ 470 / 251
  • Stock P/E128
  • Book Value₹ 20.8
  • Dividend Yield0.00 %
  • ROCE10.2 %
  • ROE35.9 %
  • Face Value₹ 10.0

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