Mumbai: Small-cap stock TCI Finance has been making waves in the Indian stock market, with its shares skyrocketing nearly 91% in just five trading sessions. Since 17 December, the non-banking financial company’s (NBFC) stock has seen tremendous momentum, pushing its price from ₹11.10 on 16 December to ₹21.25 on Tuesday, 23 December.
Consistent Upper Circuit Gains
TCI Finance shares have hit upper circuit limits for five consecutive trading sessions. Initially, the stock was in a 20% upper circuit on 17 and 18 December, but the exchanges later reduced the limit to 10%. Despite this adjustment, the stock maintained its upward momentum, registering one of the sharpest short-term rallies in recent months. If this pace continues through the month, it could mark TCI Finance’s largest monthly gain since June 2024, when it surged 120%.
Reasons Behind the Surge
Analysts note that the extraordinary rally does not appear to be driven by any major fundamental changes. Technical factors seem to have played a key role in this sharp rally, making TCI Finance one of the top-performing stocks in December. The rapid price rise has also caught the attention of stock exchanges, which have sought clarification from the company regarding the sudden price movement.
Company Response
In response on 20 December, TCI Finance stated that it has not withheld any material information that is required to be disclosed under market regulations. The company confirmed compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, ensuring investors are regularly updated on all events and information impacting company operations and performance, including price-sensitive data.
About the Company
TCI Finance is a Reserve Bank of India (RBI)-registered NBFC that provides loans against securities and financing solutions for commercial vehicles, catering primarily to small and medium enterprises.
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