It’s been a tough day for investors of Delta Corp. The share price has taken a steep plunge of 27%, owing to the announcement made by GST Council. But what went wrong? Let’s find out. Delta Corp, a renowned casino operator, faced the brunt of the Council’s decision to levy a 28% uniform GST on online gaming, horse racing, and casinos.
This is expected to cause a negative impact on the online gaming and casino industry. Stay tuned as we take a deeper look into the situation and offer insights into potential investment decisions.
What is Delta Corp?
Delta Corp established in 1990 is India s largest gaming and hospitality company including five offshore casinos and a range of hotels the company is also involved in the online gaming industry and real estate development despite facing losses in the past few years the company has managed to maintain a significant market share in the industry
The impact of the GST Council’s decision
Delta Corp, a leading player in the casino and gaming industry, witnessed a massive drop in its share price by almost 28% in a single day. The fall came after the GST Council imposed a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets.
The decision is expected to affect online gaming and casino businesses, including Delta Corp, that have already been struggling due to the pandemic. The move is also expected to impact horses as the tax makes their betting more expensive. Delta Corp shares are currently trading above their 52-week low at ₹178.20 apiece. Should investors consider buying Delta Corp shares at the current price point?
Should investors buy Delta Corp shares now?
Delta Corp’s share price has plummeted by 27 which is a significant drop while the immediate future may appear bleak it is important to evaluate the company s long-term prospects delta corp has been a leading player in the gaming and hospitality industry for many years and it has a strong reputation for innovation and customer service
While the current situation is undoubtedly challenging, experts believe that Delta Corp still has great potential. If you’re considering investing in this company, be sure to do your research and consider expert opinions before making a decision.
Alternative options for investors
Investors shouldn’t put all their eggs in one basket rather than investing solely in delta corp shares they could explore other stocks such as Indian oil nmdc or Hindalco alternatively investors could consider diversifying their portfolio with alternative investment options such as gold real estate or mutual funds remember too much gambling can be risky
Bottom line: If you trust your gut and are ready to take risks, go ahead and invest in Delta Corp shares.