Delta Corp Share Price: There was a big fall in the Indian stock market on Wednesday but today was a great day for the stock of casino company Delta Corp. Despite the deteriorating sentiment in the stock market, Delta Corp’s shares have seen a rise of 8 percent in the day’s trade. From the previous closing level of Rs 130, the stock went straight to Rs 140.65. At the end of today’s trading, Delta Corp shares closed at Rs 134.80 with a jump of 3.69 percent.
Delta Corp, which has been facing tax notices one after another regarding GST payment, has got a big relief from the Bombay High Court. After which the stock has returned to its glory after a long time. Bombay High Court has ordered the Directorate General of GST Intelligence, Hyderabad not to take any action on the GST payment notice issued against Delta Corp and its subsidiary. Earlier, the Tax Department has issued a notice to Delta Corp and its two subsidiaries on shortfall in tax payment.
It was told in the regulatory filing with the stock exchange that a notice has been issued to Delta Corp for tax dues of Rs 11,139.61 crore, its two subsidiaries High Street Cruises for Rs 3289.94 crore and Delta Pleasure Cruise Company for Rs 1765.21 crore. You will be surprised to know that the market capitalization of Delta Corp is more than Rs 3609 crore and a notice of outstanding GST notice has been served on it.
The GST notice that has been served on Delta Corp has been imposed on the gross value bets of all games played in the casino. Earlier, 28 percent GST was imposed on casinos from October 1, 2023, due to which the problems of the casino company have increased. But in recent days, after receiving the notice to pay GST, the share of Delta Corp has fallen 29 percent in 3 months, 32 percent in 6 months and 5.6 percent in one month.
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