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What is the story about?
Shares of Tourism Finance Corporation of India Ltd. (TFCI) and Cupid Ltd. have seen divergent reactions on Monday, January 5, after both the stocks had declined to a 20% lower circuit last Friday.
While shares of Cupid are down 19% in early trading, the stock of Tourism Finance are trading with gains of 5% on Monday.
A common factor between the two companies is that Aditya Halwasiya is a shareholder in both. While Halwasiya is classified as a promoter in Cupid, he has significant shareholding (18%) in
Tourism Finance as per the quarter that ended on September 30.
As per data available, Ekta Halwasiya bought 3.7 lakh shares of Tourism Finance on Friday after block deals that took place in the stock.
In a separate exchange filing, the company stated that it will act as a co-sponsor and as an anchor investor of Holystone Hospitality Fund, an equity focused Category II AIF, for up to 5% of the fund corpus and an application to register the Holystone Hospitality Fund as an AIF has been filed with SEBI.
Additionally, TFCI will also act as an anchor investor of Certus Real Estate Fund Category II AIF up to 10% of the total fund size and an application for its registration has also been sent to the market regulator.
In an exchange filing over the weekend, Cupid said that they are not aware of any material event or development to warrant such volatility in the stock price.
"The company continues to operate normally and remain focused on execution of its stated strategy," the filing stated.
Cupid also stated that there are certain false and unverified rumours being circulated with the apparent intent to create panic and tarnish the reputation of the company and its promoters. It is reviewing this and will take appropriate steps if needed.
Promoters remain committed to long-term value creation and protect the interest of stakeholders, Cupid's filing further stated.
Shares of both TFCI and Cupid had ended in a 20% lower circuit on Friday.
While shares of Cupid are down 19% in early trading, the stock of Tourism Finance are trading with gains of 5% on Monday.
A common factor between the two companies is that Aditya Halwasiya is a shareholder in both. While Halwasiya is classified as a promoter in Cupid, he has significant shareholding (18%) in
As per data available, Ekta Halwasiya bought 3.7 lakh shares of Tourism Finance on Friday after block deals that took place in the stock.
In a separate exchange filing, the company stated that it will act as a co-sponsor and as an anchor investor of Holystone Hospitality Fund, an equity focused Category II AIF, for up to 5% of the fund corpus and an application to register the Holystone Hospitality Fund as an AIF has been filed with SEBI.
Additionally, TFCI will also act as an anchor investor of Certus Real Estate Fund Category II AIF up to 10% of the total fund size and an application for its registration has also been sent to the market regulator.
In an exchange filing over the weekend, Cupid said that they are not aware of any material event or development to warrant such volatility in the stock price.
"The company continues to operate normally and remain focused on execution of its stated strategy," the filing stated.
Cupid also stated that there are certain false and unverified rumours being circulated with the apparent intent to create panic and tarnish the reputation of the company and its promoters. It is reviewing this and will take appropriate steps if needed.
Promoters remain committed to long-term value creation and protect the interest of stakeholders, Cupid's filing further stated.
Shares of both TFCI and Cupid had ended in a 20% lower circuit on Friday.
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