In the history of Delta Corp Biggest fall, In this article we read “What Options for Dealing with Delta Corp its Worst Day Ever”. In light of the GST Council’s decision to impose a 28% GST on online gaming and casinos on July 11, existing investors waiting for gains or losses should sell their shares of Delta Corp, a gaming corporation that also operates casinos. The total face value would be subject to GST.
The only publicly traded Indian casino operator is Delta Corp. The stock dropped as low as Rs 172 during the trading day of July 12, before recovering to settle at Rs 190 on the NSE. All of the stock’s annual gains were erased as the company’s market cap dropped by Rs 1,500 crore. The stock price fell by the most in a single day.
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Investors seem to favour Delta Corp. The stock’s frequent appearance on the NSE’s F&O prohibition list is more evidence of this. When derivative contracts in a scrip account for more than 95% of the market-wide position limit, the stock is added to the watch list.
On July 12, the share price fell by 23.28 percent, to Rs 189.35; the benchmark BSE Sensex fell by 0.34 percent, or 223.94 points, to 65,393.90.
Now What Options for Dealing with Delta Corp its Worst Day Ever. The Goods and Services Tax decision was particularly [unfavourable] for Delta Corp. The casino chips you gather may be subject to a GST of up to 28 percent. The government is profiting from your excessive tax burden. For Delta Corp, which makes most of its money from gambling, this is a devastating blow. Shares of Delta Corp. should be avoided. Those who have already invested should tally up their gains and losses.
A drastic rise in the gross gaming revenue (GGR) tax rate to 28% should be carefully considered for all of the potential consequences it may have. It is important to find a middle ground that allows for steady growth while avoiding negative effects on organizations cash flow and their ability to invest in new technologies and market expansion. Finding that sweet spot will ensure the gaming industry’s long-term success by encouraging expansion, healthy competition, the development of new jobs, and rising living standards.
For the fiscal year that concluded on March 31st, Delta Corp’s consolidated total sales increased by 66.41 percent year over year, from Rs 746.87 crore the previous year to Rs 1,242.85 crore. However, the company’s net profit grew by 290 percent year over year to Rs 261.37 crore.
