Stock Crash: Tourism Finance, Cupid, both Aditya Halwasiya holdings, fall to 20% lower circuit

Shares of Tourism Finance Corporation of India Ltd. (TFCI) and Cupid Ltd. saw a sudden, sharp fall on Friday, January 2, to a 20% lower circuit.

TFCI stock has snapped a two-day gaining streak in the process. At the day's high, the stock was up over 3%, extending its gains for the third day in a row.

Neither company has not made any official announcement on the exchanges, which could be attributed as the reason for the sudden sharp fall seen in the stock.

Promoters of Tourism Finance have a negligible stake, while investor Aditya Kumar Halwasiya, has a 18.8% stake in the company at the end of the September quarter, and is among the largest public shareholders in the company.

Small retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 18.9% stake in the company.

Larger retail shareholders have a 19.8% stake as of September 30.

Shares of Tourism Finance are locked in a 20% lower circuit at ₹55.24. The stock had nearly doubled in value in 2025, delivering positive annual returns for the fifth year in a row.

Shares of Cupid, which are in Stage 1 of the Long Term Additional Surveillance Measures (ASM) framework, has snapped a 13-day winning streak in today's session. The stock was among the top performers in 2025, with gains of nearly 600%.

Aditya Halwasiya features as the promoter of Cupid in its shareholding pattern, with a 32.58% stake in his individual capacity. The other 12.98% stake in the company is owned by Columbia Petro Chem Pvt. Ltd.

Close to 1 lakh retail shareholders have a 14.7% stake in Cupid, which does not have any major institutional holding.

Cupid shares are in a 20% lower circuit at ₹419.95.