Analysts' call: 'Abstain' from Tourism Finance Corporation of India buyback

They see it as a value stock for the long term with a track record of 20% dividend for eight years

Analysts have recommended investors to stay away from the ongoing open offer of Tourism Finance Corporation of India (TFCI) on expectations of a rally in its stock after completion of the offer period.

Trading currently at a 17 per cent discount to the open offer price of Rs 157.20 apiece on the National Stock Exchange (NSE), the stock had declined sharply over the past few weeks, closing at Rs 130.25 on Friday.

“We expect the stock price to witness a rally once the open offer gets over and the company gets expertise and advice from the new management and focuses