Delta Corp Share Price: The board took a big decision, the stock is up 5%, know the entire planning of the company

The stock of Delta Corp, a company engaged in online gaming and casino business, is witnessing a tremendous rise on Wednesday (September 25). During the initial trading, this stock was trading with a gain of about 10%. However, after this, this rise in the stock was seen to decrease somewhat. With this rise, the stock of Delta Corp has now reached the price of ₹ 134 per share. In intraday this stock had reached ₹ 142. Actually, the company has announced a future plan, after which this rise is seen in the stock.

The company has announced the demerger of its hospitality and real estate business. This demerger has been approved in the board meeting held on 24 September. The company will demerge this business under the Composite Scheme of Arrangement (CSA).

Delta Corp's 100% subsidiary company Delta Penland Private Limited (DPPL) will manage the hospitality and real estate business. DPPL is currently in the process of becoming a public company from a private company. Many types of approvals are yet to be taken for this. Many big assets in the hospitality business Delta Corp has many important assets in the hospitality and real estate business. This includes a 106-room hotel including a casino in Goa - Deltin Suites, 5-star deluxe property - The Deltin and the largest integrated resort spread over 10 acres in Daman. Apart from this, the company is building a 440-room hotel in Goa, named Marvel Resorts. The company will also build an integrated resort including water sports on 88 acres in Dhargalim area in Goa. The company also has investments in many hospitality and real estate ventures. It will take 10-12 months The company said that after the demerger, we will be able to focus on the core gaming business. This will help in improving the operational efficiency of this business. However, this demerger scheme is yet to get regulatory approvals from shareholders, stock exchanges, SEBI, NCLT and others. It may take 10 to 12 months. After the implementation of this demerger scheme, all shareholders will benefit in equal proportion based on their holding in the new company. This scheme will not have any impact on employees, customers and business partners. This stock has been witnessing a decline since July last year. Since July 2023, this stock has slipped by more than 31%. It is the only listed company for online gaming. It is up 5% in the last 1 month. In the last 6 months, this stock has shown a growth of more than 14%. At the same time, a decline of about 11% has also been seen so far this year.

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