Tourism Finance Corporation of India rose 1.03% to Rs 73.50 after Merlin Holdings raised its stake in the company to 8.08% from 5.55%.
Merlin Holdings has purchased 20.45 lakh equity shares or 2.53% stake in Tourism Finance Corporation of India. The filing was made after market hours on Friday, 20 December 2019.
Shares of Tourism Finance Corporation of India fell 4.33% in the past four trading sessions to settle at Rs 72.75 on Friday, 20 December 2019, from its close of Rs 76.05 on Monday, 16 December 2019.
The S&P BSE Sensex fell 35.93 points or 0.09% at 41,645.61.
The stock declined 5.28% to its current market price of Rs 73.50 in the past one month.
On the technical front, the stock's RSI (relative strength index) stood at 38.466. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day moving average (DMA) placed at Rs 78.36 and 200-day moving average (DMA) placed at Rs 93.86. Both these levels would serve as resistance levels in the upcoming trading sessions.
On a standalone basis, Tourism Finance Corporation of India's net profit jumped 17.7% to Rs 18.58 crore on 56.1% surge in total income to Rs 80.34 crore in Q2 September 2019 over Q2 September 2018.
Tourism Finance Corporation of India is a non-banking finance company (NBFC), which offers financial services. The firm is engaged in financing of projects by way of loan or investment. It provides financial assistance to tourism related/other projects in the ordinary course of business.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
