Shares of Delta Corp in intraday trade on August 7, 2020 gained over 17% to Rs. 115.5 apiece on the BSE. The surge in the share price of comes on the back of heavy volume after BSE increased its circuit limit from 5% to 20%.
On the BSE alone, 0.59 million shared changed hands at the time of writing this report, which is nearly twice the volume seen in the stock so far in the ongoing week on the exchange.
"Trading Members of the Exchange are hereby informed that as a part of review of the surveillance action, the price band are revised in the various scrips. The revised price band as indicated there under will be effective from August 07, 2020. Scrips in Trade for Trade (T2T) segments will continue to attract a price band of 5 per cent or lower, as applicable," the exchange said in a notification.
A circuit breaker is a measure employed for curbing any steep rise or fall in the price of a stock, security or index on the whole.
Interesting the country's oldest exchange BSE on Thursday has eased circuit limits for more than 600 scrips including Delta Corp, Eveready Industries, KPIT Technologies and Centrum Capital, changing the circuit filter to 20% from the previous 5%.
For the quarter ended June, the company posted a net profit of Rs. 42.08 crore, down 3.86% in comparison to Rs. 43.77 crore profit reported in the same period of last fiscal year.
Delta Corp. is engaged in the casino business and offers live, electronic and online gaming solutions in India. It is the only listed company from the space.