Delta Corp share, in which ace investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 7.38% stake, has gained over 27% in last five sessions. The stock of country's largest gaming and casino player seems to be rising on the back of report that Goa tourism department will seek financial help from the Centre for the industry stakeholders to overcome the crisis they are facing due to the coronavirus outbreak. The company owns three casinos in Goa.
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala held 1.15 crore shares and 85 lakh shares of Delta Corp at the end of quarter ended March 31. Their stake remain unchanged from quarter ended December 31 , 2019. Another veteran investor RadhaKishan Damani purchased 15.50 lakh shares of Delta Corp at Rs 65.25 each in beginning of April. For quarter ended March, Damani held 1.17% stake or 31.80 lakh shares in Delta Corp.
Share price of Delta Corp has been hitting upper circuit of 5% since May 20 leading to a rise of 27.47% in five trading sessions.
Delta Corp share opened with a gain of 4.99% at Rs 86.30 today compared to the previous close of Rs 82.20 on BSE. Total Delta Corp share price hit a 52-week low of Rs 54 on March 25 this year. Delta Corp share touched a 52-week high of Rs 224.75 on December 2, 2019. The stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
There were only buyers , no sellers for the stock today.
However, the stock has lost 56.4% since the beginning of this year and fallen 57% during last one year.
Delta Corp is a high-beta stock. It falls and rises more in comparison to benchmark indices. During last one month, the stock has gained 26% but Sensex has fallen 0.50%.
Delta Corp reported consolidated net profit of Rs 196.44 crore for the fiscal ended March 2019 compared to Rs 155.48 crore for the fiscal ended March 2018. Its revenue rose to Rs 829.10 crore for the fiscal ended March 2019 from Rs 636.28 crore in the fiscal ended March 2018.
Basic earnings per share for 2019 fiscal stood at Rs 7.30 compared to Rs 5.92 for fiscal ended 2018. Return on capital employed rose to 15.79% in last fiscal compared to 13.95% for the fiscal ended 2018.
Delta Corp is engaged in the entertainment and gaming, real estate, hospitality and aviation segments of the industry. The company operates its gaming and hospitality businesses under the DELTIN brand.