Tourism Finance Corp extends post-result slide

Tourism Finance Corporation of India tumbled 7.47% to Rs 39 at 12:33 IST on BSE, with the stock extending Monday's slide triggered by the company reporting poor Q4 March 2016 results.

Meanwhile, the S&P BSE Sensex was up 230.15 points or 0.9% at 25,883.38.

On BSE, so far 1.02 lakh shares were traded in the counter as against average daily volume of 50,407 shares in the past one quarter. The stock hit a high of Rs 40.80 and a low of Rs 38.80 so far during the day. The stock had hit a 52-week low of Rs 38 on 29 February 2016. The stock had hit a 52-week high of Rs 69.20 on 6 January 2016. The stock had underperformed the market over the past one month till 16 May 2016, sliding 7.26% compared with the Sensex's 0.1% rise. The scrip had also underperformed the market in past one quarter, advancing 3.56% as against Sensex's 10.61% rise.

The small-cap company has equity capital of Rs 80.72 crore. Face value per share is Rs 10.

Shares of Tourism Finance Corporation of India have declined 11.26% in two trading sessions from its close of Rs 43.95 on 13 May 2016, after the company announced weak quarterly earnings during market hours yesterday, 16 May 2016. The stock had fallen 4.09% to settle at Rs 42.15 on that day.

Tourism Finance Corporation of India's net profit fell 71.1% to Rs 3.25 crore on 18.6% decline in total income to Rs 36.82 crore in Q4 March 2016 over Q4 March 2015.

Tourism Finance Corporation of India gives financial assistance to hotels and non-conventional tourism projects such as amusement parks, ropeways, car rental services, ferries for inland water, transport, airtaxis, training institutes for hotel personnel, airport facilitation centres, etc.

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