Rakesh Jhunjhunwala stock: This Big Bull-backed gaming firm shares hit new 52-week high, scrip up 50% in a month – check what’s driving the counter
This Rakesh Jhunjhunwala backed gaming company stock — Delta Corp has touched a new 52-week high on Monday after surging for 13 per cent to Rs 258 per share on the BSE intraday trade. The gain in the stock is mainly due to the unlocking of casinos that the company owns in different tourist spots across India.
This Rakesh Jhunjhunwala backed gaming company stock — Delta Corp has touched a new 52-week high on Monday after surging by 13 per cent to Rs 258 per share on the BSE intraday trade. The gain in the stock is mainly due to the unlocking of casinos that the company owns in different tourist spots across India.
Delta Corp in its filing informed exchanges on Sunday, “Further to our previous disclosures on various dates in relation to the operation of our casinos, we would like to inform you that the Government of Goa has allowed reopening of the Casinos in the State. All the casinos operated by the Company and its subsidiaries in Goa will resume operations from 20th September 2021.”
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With the opening of the casinos in Goa, all casinos operated by the company and its subsidiaries (in Goa, Sikkim & Nepal) and The Deltin, the hotel in Daman operated by the company's subsidiary, will be operational, the gaming firm further stated in the filing.
Rakesh Jhunjhunwala, who is termed as the Big Bull of the Indian stock market, along with his wife Rekha jointly hold 20,000,000 shares, which comprises to 7.5 per cent stake worth over Rs 450 crore in the company, the latest shareholding pattern available of BSE shows.
Besides Delta Corp, the ace investor also holds around 38 stocks publicly in his portfolio along with his wife and associates, these range from pharma to FMCG to auto.
Delta Corp was the only listed company on exchanges until Nazara Technologies got listed earlier this year. The stock in the last one month has jumped over 50 per cent from Rs172.58 per share.
The stock at around 11:37 am has been gaining over 3 per cent to Rs 235.4 per share on the BSE as compared to a 0.19 per cent rise in the S&P BSE Sensex at the same time on Monday.
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