Shares of Tourism Finance Corporation of India Ltd. (TFCI) and Cupid Ltd. reacted differently on Monday, January 5, following sharp declines last Friday that triggered a 20% lower circuit for both stocks.
Cupid Ltd. Faces Continued Pressure
Cupid shares fell 13%, after plunging as much as 19% in early trading on Monday. Despite recent market turbulence, the company clarified that no material events have occurred to justify such a sharp decline.
In a weekend exchange filing, Cupid stated:
- The company continues normal operations and remains focused on executing its strategic plans.
- Certain false and unverified rumors have circulated, potentially causing market panic and harming the reputation of the company and its promoters.
- Promoters are committed to long-term value creation and protecting stakeholder interests.
As of Monday, Cupid shares were trading at ₹361.7, down 14% on the day. Notably, the stock had surged over 500% in 2025, highlighting its volatile performance.
TFCI Rebounds Strongly
Contrastingly, TFCI shares surged nearly 10%, trading at ₹60.4 on Monday. The rally follows strategic moves by the company to strengthen its investment portfolio:
Strategic Investments in Hospitality and Real Estate
- TFCI will co-sponsor and act as an anchor investor for the Holystone Hospitality Fund, an equity-focused Category II AIF, investing up to 5% of the fund corpus. The fund registration application has been submitted to SEBI.
- The company will also serve as an anchor investor in the Certus Real Estate Fund Category II AIF, investing up to 10% of the total fund size, with registration submitted to the market regulator.
Promoter Activity Supports Market Confidence
Ekta Halwasiya purchased 3.7 lakh shares of TFCI on Friday through block deals, reinforcing promoter confidence. Aditya Halwasiya, a common shareholder in both companies, holds a prominent 18% stake in TFCI and is classified as a promoter in Cupid, linking the fortunes of both stocks to his investment strategy.
Market Takeaways
The contrasting stock movements underline the impact of promoter actions, strategic investments, and market rumors on investor sentiment. While Cupid faces short-term volatility, TFCI’s proactive investment moves have buoyed investor confidence.
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