20% Upper Circuit: Stock skyrockets after 8.2 lakh shares exchanged hands via block deal

Synopsis: Tourism Finance Corporation of India, after Ekta Halwasiya acquired stakes in the company worth Rs 4.54 crore. Also, the company announced to co-sponsor and act as an anchor for two separate Category II alternative investment funds.

The shares of this company, engaged in providing financial assistance to the tourism sector comprising hotels, resorts, restaurants, food courts, amusement parks, ropeways, multiplexes, etc are in focus after multiple positive developments surrounding the company, followed by block trade and notable investment in different categories. In this article, we will dive more into the details of it.

With a market capitalisation of Rs 3,063 crore, the shares of Tourism Finance Corporation of India Ltd reached a day’s high of Rs 66.16 per share (upper circuit), up 20 percent from its previous day’s closing price of Rs 55.14 per share. Over the past five years, the stock has delivered a robust return of 499 percent, outperforming NIFTY 50’s return of 84 percent.

Reason behind the rally

Tourism Finance Corporation of India (TFCI) noted big gains on today’s trade after a significant block deal took place on Friday. The block deal garnered the interest from Ekta Halwasiya, who has purchased around 3.75 lakh shares of the company from block trades amounting to Rs 2.06 crore at an average price of Rs 55.14.

Also, Ekta Halwasiya acquired an additional 4.5 lakh shares at an average price of Rs 55.24, which amounts to Rs 2.48 crore. This makes the total acquisition value of Ekta Halwasiya to Rs 4.54 crore.

Additionally, the company announced that it is taking steps to position itself as an equity co-sponsor and anchor for two Category II Alternative Investment Funds (AIFs), in addition to its traditional lending offerings. 

According to an Exchange Filing dated 04 Jan 2026, TFCI has agreed to act as co-sponsor and anchor investor for the Holystone Hospitality Fund (equity), a Category II AIF, investing in the range of 5 percent of the total fund corpus, whose registration with SEBI has begun.

Also, TFCI will also serve as anchor investor to the Certus Real Estate Fund (another Category II AIF), by committing to invest as much as 10 percent of the overall size of the Fund, and is currently submitting the required applications for registration with SEBI.

In simple terms, TFCI is investing in hospitality and real estate-focused investment funds that are aligned with TFCI’s core businesses. This demonstrates TFCI’s willingness to expand its business model to include additional revenue streams and increase the diversity in its growth strategy.

TFCI’s early engagement in the investment process is also expected to enhance TFCI’s ability to obtain higher-quality assets and create value over the long term, which is likely to increase investor confidence in TFCI’s potential for continued growth.

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Financial and other highlights

The revenue from operations for Tourism Finance Corporation of India stands at Rs 66 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 65 crores, up by about 1.6 per cent YoY. Additionally, on a QoQ basis, it reported a growth of 3 percent from Rs 64 crore. Thus, revenue growth remained weak during both periods.

Coming down to its profitability, the company’s net profit stood at Rs 29 crore in Q2 FY26, up from Rs 26 crore in Q2 FY25, which is a growth of 12 percent YoY. However, on a QoQ basis, it reported a net profit of Rs 31 crore, which is a decline of 6.5 percent.

TFCI (Tourism Finance Corporation of India Ltd.) was established as the leading Public Financial Institution (PFI) of India in 1989. TFCI was initially dedicated specifically to providing both Financial & Advisory Services to the Tourism Industry in India, although it has gradually diversified into the areas of Education, Health Care, Non-Banking Financial Companies (NBFC), Affordable Housing, Logistics, Warehousing, Renewable Energy, and Manufacturing. 

TFCI has been involved in developing more than 50,000 Star Category Hotel Rooms and Several Landmark Tourism Projects throughout India, and has also provided Advisory Services to the Ministry of Tourism as well as many State Governments. TFCI is headquartered in New Delhi and has an office in Mumbai, and is comprised of an experienced and professional management and board, making it a specialist lender and advisor to the Tourism and Infrastructure sector of India.

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