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Tourism Finance Corporation has been gaining on the bourses ever since it announced qualified institutional placement proposals. The company’s board is meeting on December 19 to consider a proposal for enhancing the paid-up capital through the issue of further equity through preferential allotment and/or qualified institutional placement in accordance with the relevant SEBI Guidelines.

According to market rumour, traders are expecting that the placement could be at higher price. According to analysts, the pricing would be decided keeping in mind the future growth prospects of the company, as the current price does not reflect its true growth potential. Besides, the general buoyancy and capacity expansion planned in hotel and tourism sectors for the next couple of years also bode well for the company, said market participants. The stock has jumped 19.85 per cent during the week and scored a gain of 28 per cent over a month’s period.

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