Tourism Finance Traded on a New High over a Bulk Deal

Insync Capital Partners LLP bought under 1% stake in the company through open market on Tuesday. Over the bulk deal, Tourism Finance share price has rallied 14% to Rs 70.40 on the National Stock Exchange (NSE) in early morning trade.

On October 4, 2016, Insync Capital Partners LLP bought 0.53% stakes representing 425,000 shares of Tourism Finance Corporation of India at the prevailing price of Rs 56.22 per share on NSE. The bulk deal is confirmed by the data on NSE. The name of sellers not ascertained immediately.

Tourism Finance share price hit a 52-week high of Rs. 70.40 and has surged 52% in past four trading sessions from Rs 46.40 on September 29.

Tourism Finance is a Government of India Enterprises. The company is occupied in the business of financing tourism-related projects. They offer financial assistance to companies for setting up and/ or development of tourism-related projects, facilities and services, such as hotels, restaurants, holiday resorts, amusement parks, multiplexes and entertainment centers, education and sports, safari parks, rope-ways, cultural centers, convention halls, transport, travel and tour operating agencies, air service, Tourism Emporia, and sports facilities. The company has first explored and innovated various products in financing the varied needs of the industry such as the first Amusement-cum-Water Park in Mumbai, the first Water Sports Complex at Goa, the Palace on Wheels, the highly highly praised spa The Ananda at Himalayas, the restoration of heritage resorts namely the Devigarh Palace at Udaipur, conversion of Umaid Bhawan Palace into a resort hotel etc.

Currently, Tourism Finance share price is trading at Rs. 67.70 with the rise of 10%. So far 1.15 crore shares have been traded at the NSE trading window against its twenty-day average of 14 lakh shares.Tourism Finance is the top 500 pick for the quarter by Dynamic Levels website. For the resistance and support levels of the stock, check Tourism Finance share price forecast page of Dynamic Levels website.