There is a downtrend in the stock market before the festive season. However, after the decline in early trade on Friday, buying came in the market from lower levels and Nifty bounced from the low level of 24568.
Meanwhile, much stock-based news is coming into the market during the earning season. There are reports of corporate action in many stocks.

Star investor Vijay Kedia has recently bought a stake in Mahindra Holidays and Resorts India Ltd. He has bought 20.25 lakh shares in this stock. Investors are keeping an eye on this stock. On Friday, shares of Mahindra Holidays and Resorts India were trading at Rs 378.50 with a decline of one percent. The market cap of the company is Rs 7.65 thousand crores.

Club Mahindra, the flagship brand of Mahindra Holidays and Resorts India Limited, has announced the launch of its new property, Club Mahindra Bharatpur in Rajasthan. The company claims that this launch further expands the portfolio of Club Mahindra in the area, which can give an experience to its members. Extra facilities and themes have been added to this property to attract tourists. Mahindra Holidays and Resorts India Limited (MHRIL) is part of the Mahindra Group. The Club Mahindra brand is the largest vacation ownership company outside the US and has over 2,50,000 members.

The company presented excellent quarterly results (Q1FY25). According to standalone quarterly results, net sales grew 7.1 percent to Rs 350.97 crore and net profit grew 19.3 percent to Rs 45.20 crore in Q1FY25 as compared to Q1FY24. According to the consolidated quarterly results, net selling grew 6.3 percent to Rs 652.86 crore and net profit grew 763.2 percent to Rs 6.68 crore in Q1FY25 as compared to Q1FY24. In its annual results, net selling grew 7.5 percent to Rs 2,704.60 crore and net profit grew 3.15 percent to Rs 116.63 crore in FY24 as compared to FY23.

Star investor Vijay Kedia bought 20,25,000 shares in the company which is equal to a 1 percent stake in the company. The market cap of the company is more than Rs 7,600 crore and its return on equity (ROE) track record is good. The 3-year ROE remains at 30.8 percent. The PE of the company's shares is 80 times and ROE is 25 percent.