Tourism Finance Corp. rises after Triumph Global buys stake

Tourism Finance Corporation of India rose 1.72% to Rs 67.85 after Triumph Global India purchased 0.56% stake in the firm via bulk deal on Tuesday, 9 March 2021.

As per the bulk deal data on the NSE, Triumph Global India purchased 4,50,000 shares, or 0.56% equity, of Tourism Finance Corporation on Tuesday, 9 March 2021, at an average price of Rs 66.57 each.

Shares of Tourism Finance Corporation surged for second trading session in a row. The counter has added 10.4% in two days.

Tourism Finance Corporation of India a premier tourism financing institution. It is a dominant player in the hospitality segment and is engaged in project financing, corporate loans, working capital demand loan, structured financing, etc.

 

The company posted a 12% decline in net profit to Rs 24 crore on a 4.2% rise in total income to Rs 71.09 crore in Q3 FY21 over Q3 FY20.

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