BackDelta Corp climbs 7% as DMart owner Radhakishan S. Damani buys stake
The stock of Delta Corp ended up 5% at ₹187.4 while that of Avenue Supermarts Ltd, which runs the DMart chain, settled largely flat at ₹1,924.1 in today’s session
PremiumShares of Delta Corp Ltd rallied more than 7% intraday on Friday after ace investor Radhakishan S. Damani, who owns the retail supermarket chain of stores DMart, bought 1.53% stake in the gaming and casino operating company, according to the September quarter shareholding pattern on the BSE.
The stock of Delta Corp ended up 5% at ₹187.4 while that of Avenue Supermarts Ltd, which runs the DMart chain, settled largely flat at ₹1,924.1 in today’s session.
Vermillion Peak Master Fund, which is registered with the US Security and Exchange Commission, also picked up 1.47% stake in Delta Corp during the quarter.
Among others, ace investor Rakesh Jhunjhunwala holds 4.24% in Delta Corp and his wife Rekha Jhunjhunwala owns 3.14% in the company, which is the only listed casino operator in India.
HDFC Midcap Opportunities Fund raised its stake in the company by 1.17%, Karst Peak Asia Master Fund by 0.66% and LG Greater India Fund by 0.25%. However, Smallcap World Fund slashed its shareholding by 1.68% and Gaoling Fund sold the entire stake during the quarter ended September.
Delta Corp's profit in the July-September grew by 22.7% year-on-year to ₹59 crore due to lower tax cost, but revenues fell 0.14% to ₹200.8 crore compared to the year-ago period.
On the operating front, earnings before interest, tax, depreciation and amortisation (EBITDA) increased 3.4% on year to ₹81.3 crore and margin expanded 140 bps to 40.5% in the second quarter.
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