Investment Recommendation

Tourism Finance Corporation of India
Recommendation: Buy
Price target: Rs30
Current market price: Rs21


The financial year 2008 could be termed as a turnaround year for Tourism Finance Corporation of India (TFCI), which with a 5.8% growth in its loan book broke the previous four years’ trend of a negative growth in advances during the year. The industry witnessed a robust credit growth during the same period, riding on the consumption boom in the country. During the year, project related sanctions increased by 52.5% while disbursements increased by 67.4%.