Delta Corp Ltd. share price rose to the highest level since Dec. 20, 2024 after the Supreme Court agreed to hear the pleas of online gaming companies, who are seeking a stay on GST show cause notices. The apex court will hear the gaming companies' petition on the matter on Jan. 10.
Gaming companies are seeking a stay on the show cause notice fearing potential coercive action by the tax authorities, NDTV Profit reported, citing people in the know.
According to the official website of Delta Corp, it is engaged in online gaming, along with casino gaming with over 2,000 live gaming positions and state-of-the-art offshore and onshore casinos.
Delta Corp share price rose 7.37% to 117.70 apiece. It was trading 4.17% higher at Rs 114.19 apiece as of 12:34 p.m., as compared to a 0.83% decline in the NSE Nifty 50 index. The counter rose two days in a row as of Wednesday.
The stock hit a 52-week high of Rs 157.90 apiece on Jan. 11, 2024 and the 52-week low of Rs 104.45 apiece on June 4, 2024.
The stock declined 24% in 12 months. Total traded volume so far in the day stood at 10 times its 30-day average. The relative strength index was at 48.28.
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