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23.07 - 20:21
Big traders exit gaming stock Delta Corp as GST rates rise
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₹247 apiece on 11 July to ₹189.50 a day later in response to higher tax on gaming. Manoj Vayalar, vice president, Religare Broking, however, said the increase in outstanding positions of futures contracts should not be seen as ‘mere shorting’ but as a ‘hedge’ by large funds ahead of the Q1 results.
“The stock is nearing a triple bottom and should get support at ₹160 levels, which could be a good entry point," Vayalar added. The promoters held 33.28% in the company as of 31 March.
Other prominent shareholders included HDFC MF, with 9.21%, and Quant MF at 2.29%. Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
. Read more on livemint.comAbout this in other media
RBL Bank, Delta Corp, 5 others placed under F&O ban on NSE for July 21; check details livemint.com /1 year ago
Online gaming investors say 28% GST will make business ‘unviable’ economictimes.indiatimes.com /1 year ago
Delta Corp up 2.5% Nazara Tech up 2% on GST on online gaming rethink livemint.com /1 year ago
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