Tourism Finance Corporation tanks 24% in 2 days on exposure to Cox & Kings

Shares of Cox & Kings were locked in the 5 per cent lower circuit for the sixth straight day at Rs 31 per share.

Shares of Tourism Finance Corporation of India (TFCI) skid 5 per cent intra-day to hit an over two-year low of Rs 83 on the BSE on Wednesday after concerns surfaced over the company’s substantial exposure to Cox & Kings. The financial institute's stock was trading at its lowest level since April 2017, having tanked 24 per cent in the past two trading sessions.

The company said its exposure to Cox & Kings, which was repayable over a period up to three years, was adequately secured through a mix of charge on tangible current assets & mortgage of fixed assets, pledge