Delta Corp Share Price Remains Firm; See Analyst Calls on Delta Corp
Delta Corp share price was trading positive on Monday as the stock consolidates around 180 – 185 levels. Delta Corp is getting support around Rs 180 and major support comes at 52-week low of Rs 173.70. The stock has managed to remain above its 52-week low despite selling pressure on the counter. Delta Corp was performing strong till the Indian government announced 28 percent GST on the gaming and casino segment.
Investors were hoping that the GST council would reconsider the high tax rate but that won’t happen for next six months, after implementation of new tax on the sector. Delta Corp stock was comfortably trading around Rs 246 when the GST announcement came on 12 July 2023. The stock has been under pressure.
The company reported a strong quarter but the positive results were overshadowed by Indian government’s GST decision. After this decision, no market analyst or research house has suggested any CALL for the stock. Only short term, trading calls have been given.
Market participants are looking forward to the impact of GST decision on Delta Corp’s performance and this would be clear in 6-9 months (when the company would have declared results for upcoming three quarters).