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Home / Companies / Company Results /  Delta Corp climbs 7% as DMart owner Radhakishan S. Damani buys stake

Shares 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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