Delta Corp share price hits fresh 52-week low, down 48% in about three months; what should you do?
Delta Corp share price dropped almost six per cent in the morning trade on BSE on Tuesday to hit its fresh 52-week low of ₹134.55. The stock opened at ₹137.50 against the previous close of ₹143 and plunged 5.90 per cent to its one-year low level. In the previous session, the stock cracked over 18 per cent after it received a government notification requiring it to pay a tax of ₹16,822 crore for the period spanning July 2017 and March 2022.
The stock saw two bulk deals on Monday (September 25) on the BSE. Bonanza Commodity Brokers Private Limited sold 15.95 lakh shares of Dela Corp at a price of ₹140.34 per share. Later, the same firm bought 2.53 lakh shares of Dela Corp at a price of ₹140.21 per share.
On the NSE, however, it saw as many as 13 bulk deals. Take a look at the below table: As Mint reported earlier, a notice for ₹5,682 crore was filed against three of the company's subsidiaries, Casino Deltin Denzong, Highstreet Cruises, and Delta Pleasure Cruises, the company stated in an exchange filing. The company received notification to pay an alleged tax liability of ₹11,140 crore, along with interest and penalty, for the period from July 2017 to March 2022, according to another exchange filing.
If the company fails to do so, a show-cause notice will be issued to the company. (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The tax notice is a fresh blow to Delta Corp which has been struggling since July this year after the GST Council decided to impose a 28 per cent GST on the full value of online gaming.
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