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.
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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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