Tourism Finance Corporation of India Ltd shares gained 5%, to hit the upper circuit limit on BSE on Tuesday, February 20 after around 1.18 crore of its shares worth ₹248 crore traded in block deal.
According to stock exchange data, around 1.18 crore shares of the company representing around 13.05% equity stake changed hands at a price of ₹210 per share.
Public shareholders own around 82.33% stake in the company while the promoters, including Oriental Insurance Company, hold the remaining 17.67% stake.
Tourism Finance Corp is a public financing company that provides funding and advisory to the tourism sector in India.
Its shares have rallied around 220% from its 52-week low of ₹66.75 hit on March 29, 2023. The stock trades around 10% lower from the 52-week high it hit on February 2 this year.
Shares of the company have rallied around 21% in the past five days after the company announced its financial results for the December quarter.
The company reported a 50% growth in net profit at ₹27.59 crore in the December quarter from ₹18.38 crore in the year-ago period. Its total sales rose 25.43% to ₹63.97 crore in the quarter ended December 2023 compared to ₹51 crore a year ago.
According to an investor presentation, its gross loan book rose to ₹1,621.48 crore as of December 2023 compared to ₹1,519.69 crore in the year-ago period.
Tourism Finance Corp shares were up 5% at ₹220.05 apiece at 9.53 am,
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: Phase 5 voting concludes with over 57% voter turnout, experts weigh in on key battles
May 20, 2024 11:07 PM
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM