BNP Paribas buys Mahindra Holidays shares for Rs 21.3 cr

Written by Press Trust of India | Mumbai | Updated: Oct 5 2013, 04:52am hrs
Financial services firm BNP Paribas Arbitrage today acquired 10 lakh shares of Mahindra Holidays & Resorts India for Rs 21.30 crore, through an open market deal.

BNP Paribas picked up Mahindra Holidays shares for Rs 213 each, As per the bulk deal information with the bourses.

The 10 lakh shares acquired by BNP amounted to 1.12 per cent stake in Mahindra Holidays & Resorts.

Mahindra Holidays had reported a 10.81 per cent rise in net profit to Rs 21.01 crore for the quarter ended June 30, 2013 mainly on account of higher occupancy. The occupancy for the quarter had stood at 90 per cent, the firm had said.

The company is part of diversified Mahindra Group Company and is a leading player in the leisure hospitality industry, offering family holidays, primarily through vacation ownership memberships.

Mahindra Holidays shares dropped marginally by 0.54 per cent to end the day at Rs 212.85 apiece, on the BSE.