Tourism Finance shares surge 5% following four block deals

By Aditya Bhagchandani Published on February 20, 2024, 12:15 IST

Shares of Tourism Finance Corp of India Ltd witnessed a 5 percent increase in the opening trades following four block deals involving 11.8 million shares of the company, as reported by Bloomberg.

The deal, valued at Rs 248 crore, priced each share at Rs 210. As of 12:10 pm, the shares were trading at ₹220.20.

The surge in shares follows the firm’s robust earnings report for the December quarter. Net interest income in the December quarter stood at Rs 27.51 crore, compared to Rs 22.99 crore a year ago. Additionally, net profit rose to Rs 27.59 crore from Rs 18.38 crore a year ago.

Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.