This Midcap Gaming Company Stock Hit 52-Week High As Losses Narrow

Delta Corp's stock rose 12 percent to Rs 305 in early trade on October 12 after the gaming and hospitality firm trimmed its losses in the September 2021 quarter to Rs 22.57 crore from Rs 54.91 crore the previous quarter.

Delta Corp (DELTA) is India's sole publicly-traded gaming corporation, with a stronghold on the offshore casino market in Goa.

The board of directors of Delta Corp Limited accepted the company's unaudited consolidated financial results for the period ended September 30, 2021, during its meeting on Monday.

The stock returned 23.46 percent over three years, compared to 93.14 percent for the Nifty Midcap 100. Delta Corp Ltd., founded in 1990, is a Mid Cap business in the Tourism & Hospitality sector with a market capitalization of Rs 7,265.53 crore.

This Rakesh Jhunjhunwala portfolio stock has delivered a fresh breakout at 290 levels, according to market experts, and it may go up to 340 per share in the immediate run. They urged investors to purchase Delta Corp stock because the business had posted positive Delta Corp results for the second quarter of FY22, decreasing its loss.

Delta Corp announced a combined net loss of Rs 22 crore for the quarter ending September 2021 on Monday (Q2FY22). The second-quarter loss for the Rakesh Jhunjhunwala holding firm is lower than the year-ago period (Q2FY21) of 55 crore and the prior June quarter of 29 crore (Q1FY22).

The company said in a regulatory filing, "Due to COVID-19 pandemic and the consequent lockdowns announced by the respective Government Authorities, the operations of the Group were suspended since the third week of March, 2020 to October 2020. Also, during the current financial year, consequent to the lock down due to the second wave of pandemic announced by the state governments, the Group could operate only partially, which impacted on the financial earnings of the company."