Shares of Tourism Finance Corporation of India Ltd. (TFCI) witnessed a sharp sell-off in Friday’s trading session, plunging the full 20% and hitting the lower circuit on January 2. The stock was locked at ₹55.24 as of 2:16 PM IST, compared with its previous close of ₹69.05.
TFCI opened the session at ₹69.70 and briefly touched an intraday high of ₹71.15 before intense selling pressure dragged the stock sharply lower. The counter has now retreated from its 52-week high of ₹75.90, though it continues to trade well above its 52-week low of ₹24.46. Trading activity surged sharply, with volumes crossing 3.77 crore shares by early afternoon, indicating aggressive unwinding of positions.
The stock snapped a two-day gaining streak after being up over 3% at the day’s high, which had marked its third consecutive session of gains. Notably, a large trade took place earlier in the day, with around 1.5 crore shares—representing about 3.24% of the company’s outstanding equity—changing hands at an average price of ₹56 per share. The total value of the transaction stood at approximately ₹83 crore.
There has been no official disclosure or announcement from the company that could be directly linked to the sharp fall.
As per the September quarter shareholding pattern, promoters hold a negligible stake in Tourism Finance Corporation. Investor Aditya Kumar Halwasiya holds an 18.8% stake and is among the largest public shareholders. Small retail shareholders, or those with authorised share capital of up to ₹2 lakh, hold a 18.9% stake, while larger retail shareholders own about 19.8% of the company.
Despite the sharp correction, Tourism Finance Corporation shares had nearly doubled in value in 2025 and delivered positive annual returns for the fifth consecutive year prior to Friday’s fall.
Cupid shares also hit lower circuit
Shares of Cupid Ltd. also saw a sharp sell-off on January 2, hitting a 20% lower circuit and snapping a 13-day winning streak. Cupid shares are currently placed under Stage 1 of the Long Term Additional Surveillance Measures (ASM) framework.
The stock had been among the top performers in 2025, delivering gains of nearly 600% before Friday’s sharp correction.
Aditya Halwasiya is listed as the promoter of Cupid, holding a 32.58% stake in his individual capacity, while Columbia Petro Chem Pvt. Ltd. owns an additional 12.98% stake. Retail shareholders—close to 1 lakh in number—hold around 14.7% of the company. Cupid does not have any major institutional shareholding.
No exchange filing or corporate announcement has been made by Cupid that explains the sudden fall in the stock.
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