TFCI up almost 11%

Tourism Finance Corporation of India (TFCI) is doing very well in this otherwise bad market. The stock is up currently almost 11% at Rs.24.65, with an intra day high at Rs.25.85. Its 52-week high stands at Rs.30.35. Volumes are HUGE at over 2.3 lakh shares being traded compared to around 7400 shares over past two weeks average.

The stock is up today on news that it is submitting application for securing a bank license after its board approved the same. TFCI is promoted by PSUs like IFCI, SBI and LIC. As at 31^st March 2013, IFCI holds 42.50% stake, SBI at 9.19%, LIC at 7.7%, bank of India at 4.7%, United India Insurance holds 1.48% and Oriental Insurance holds 1.29%.