28% GST rate on online gaming impact: Why Nazara Tech shares fall is limited while Delta Corp stock drop nearly 30%?
The 28% GST rate on online gaming stocks caused a bearish reaction, with Nazara Technologies and Delta Corp shares falling rapidly. Nazara expects minimal impact as the tax, while Delta Corp has not commented on the impact on its business.
The 28% GST rate imposed on the full value of online gaming stole the limelight after the 50th GST Council meeting. On the expected lines, online gaming stocks reacted on a bearish note on Wednesday. Experts believe the 28% tax rate is a setback for Indian players. Interestingly, Rekha Jhunjhunwala-backed Nazara Technologies' share price fall is limited, on the other, Delta Corp stock is bleeding to drop by nearly 30%.
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