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Delta Corp share rises over 3% as casinos in Goa to resume operations

BusinessToday.In     November 3, 2020

Delta Corp share price rose over 3% percent intraday after the firm on November 2 said it would open casinos in Goa with immediate effect. The stock touched an intraday high of Rs 114.3, rising 3.3% on BSE.  The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The share has lost 45.39% in  one year and fallen 43.12% since the beginning of this year. It touched 52-week high of Rs 224.75 on December 2, 2019 and a 52-week low of Rs 54 on March 25, 2020.

Total 0.58 lakh shares changed hands amounting to turnover of Rs  64.93 lakh. Market cap of the firm rose to Rs 3004 crore on BSE. Later , the share closed 1.76% or Rs 1.95 higher at Rs 112.60.

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"We would like to inform you that our casinos in Goa will resume operations with immediate effect, in accordance with  applicable  safety  norms  prescribed  by  the and Central Government. You are requested to take the same on record," the firm said in communication to BSE on November 2.

On October 28, the Goa government allowed casinos in the state to restart operations from November 1, which were shut since March-end when the Covid-19 pandemic broke out in the country.

Announcing the decision, Goa chief minister Pramod Sawant said that the decision was taken with a view to "promote tourism activity in the state." The casinos in the state had been urging the government to allow the restart of operations, which they said would help boost the tourism arrivals in the state and provide an added attraction to tourists visiting the state.

This stock turned Rs 1 lakh into Rs 3 lakh in 1.5 months, hit all-time high today

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