Intraday Spotlight: Delta Corp rallies over 5 per cent as HDFC Mutual Fund acquires additional stake in the company

The company is one of the leading gainers in the A group

The scrip in which Rakesh Jhunjhunwala holds about 7.5 per cent stake- Delta Corp Ltd, engaged in the gaming, casino and hospitality business, has jumped over 5 per cent today from its previous close of Rs 179.90. The stock opened at Rs 181.10 and has made its day high of Rs 191.50 (+6.44 per cent). As of 11:20 am today, the stock was trading near Rs 189 on the BSE. This gaming company is one of the leading gainers in group A on the BSE.      

While the benchmark index Sensex is trading sideways today, Delta Corp has been flying as HDFC Mutual Fund acquired an additional 2.15 per cent stake in the company. It carried out the transaction in the open market on June 10. Its previous holding was at 7.06 per cent and now it has become 9.21 per cent. For the quarter ended March, the company reported a decline of 15.6 per cent in profitability but a slight increase of 3.3 per cent in revenues on a YoY basis.      

Delta Corp is the largest gaming company in the country. Its primary source of income is through casinos. It currently has its casinos in three regions: Sikkim, Goa and Daman. Its online gaming portfolio includes poker and Rummy.    

The stock has a 52-week high and low of Rs 339.50 and Rs 165, respectively.