Mahindra Holidays & Resorts India, leader in vacation ownership space in India focusing on quality family holidays, announced that the company has completed the acquisition of 18.8% equity stake in Holiday Club Resorts Oy (HCR) through its wholly-owned subsidiary Covington S.a r.l., Luxembourg.

The stock had underperformed the market over the past one month till Aug. 12, 2014, falling 3.60% compared with the Sensex's 3.42% rise.

It underperformed the market in past one quarter, declining 6.44% as against 9.89% rise in the Sensex.

Shares of the company declined Rs 2.9, or 1.02%, to settle at Rs 282.20. The total volume of shares traded was 9,098 at the BSE (Wednesday).