- Date : 14/07/2022
- Read: 3 mins
There has been a 2% increase in the price of Delta Corp shares that belongs to R. Jhunjhunwala. Let’s get to know about the opinions of stock market experts.
It is an Indian hospitality and gaming corporation previously famous as Arrow Webtex Ltd. This company owns many hotels and casinos with different brands. Moreover, it also has online and live casino options. Goa, Panaji has most of its offshore casinos. Stock market experts claim that it is a good stock to invest in as its field of online gaming is increasing significantly.
Increase in the Stocks of Delta Corp
The stock market faces up and down regularly. Recently, the government decided to increase the implemented GST on casinos from 18% to 28%. There has been a two-day meeting in which the authorities took this decision. They decided to increase the GST on services like casinos, online gaming, and horse ridings. However, this proposal has been postponed till further notice.
As soon as this notice reached the people, there was an increase in the stocks of Rakesh Jhunjhunwala of Delta Corp. The stocks increased by 2% this Wednesday.
Stock market experts claim that there has been a positive effect on these stocks, and their price can reach up to 195 INR. Puneet from Swastik Investment said that the news of an increase in GST from 18% to 28% on casinos and online gaming had a positive impact on the shares of Delta Corp. it has been proved as good news for the company.
Mudit Goyal from SMC Global Securities said that the stock would easily reach 195 INR quickly. He also said that new investors could invest with this target price.
In previous months this stock was facing a great down. However, as a result of this news, the Delta stocks have shown remarkable performance for a few days, and the price of it bounces from 170 INR to 174 INR.
One of the stocks of R. Jhunjhunwala recently experienced a rise of 2% in the market. These stocks belong to the Delta Corp Company. The price of these stocks increased due to the postponement of the increase in GST on casinos, online gaming and horse ridings. The government proposed to increase the GST on these items from 18% to 28%. Experts claim that the price can easily reach up to 195 INR in a few days. Moreover, the company has shown immense performance in few previous days. Also read about this stock of Tata Group in which Rakesh Jhunjhunwala has invested Rs 667 crores.
Disclaimer: This article is intended for general information purposes only and should not be construed as insurance or investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas.