Delta Corp extends recent rally

Delta Corp rose 8.82% to Rs 80.85 at 14:27 IST on BSE, with the stock extending recent rally after the Goa government granted permission to the company's wholly owned subsidiary to operate casinos on the Mandovi River till 31 March 2017.

Meanwhile, the S&P BSE Sensex was down 134.67 points or 0.54% at 24,765.96

On BSE, so far 16.69 lakh shares were traded in the counter as against average daily volume of 3.44 lakh shares in the past one quarter. The stock hit a high of Rs 83.40 and a low of Rs 73.65 so far during the day. The stock had hit a 52-week high of Rs 97.10 on 15 April 2015. The stock had hit a 52-week low of Rs 49 on 29 February 2016. The stock had outperformed the market over the past one month till 6 April 2016, rising 20.42% compared with 1.03% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 10.05% as against Sensex's 1.99% decline.

The small-cap company has equity capital of Rs 23.07 crore. Face value per share is Re 1.

Shares of Delta Corp have gained 22.31% in five trading days from its close of Rs 66.10 on 1 April 2016 after the company said that the government of Goa has granted permission to Delta Pleasure Cruise Company, its wholly owned subsidiary to operate vessel M V ROYALE FLOTEL in Mandovi river till an alternate feasible site is finalized by the government or till 31 March 2017 whichever is earlier. With this, the company will strengthen its presence thereby reinforcing its leadership position in the Indian gaming and entertainment space, Delta Corp said.

Delta Corp reported consolidated net profit of Rs 7.70 crore in Q3 December 2015 compared with net loss of Rs 0.43 crore in Q3 December 2014. Delta Corp's net sales rose 23.7% to Rs 100.14 crore in Q3 December 2015 over Q3 December 2014.

Delta Corp is one of the largest gaming and hospitality company in India.

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