Tourism Finance Corporation of India share price rallied 9.4 percent intraday after a big block deal in early trade.
About 1.9 crore equity shares (representing nearly 24 percent of paid-up equity) traded on NSE & BSE at an average price of Rs 150 per share through block deals which were worth Rs 293 crore.
Sources told CNBC-TV18 that IFCI is likely to have sold 24 percent stake in Tourism Finance.
IFCI has to divest non-core assets as a part of its strategy, so this could be one of its non-core assets.
As per the latest shareholding details available on exchanges (as of June 2017), IFCI held 26.09 percent stake (2.1 crore equity shares) in the company.
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