Delta Corp rose 1.87% to Rs 106.15 at 12:11 IST on BSE after the company said it launched a casino resort in Daman.
The company made the announcement during trading hours today, 6 March 2014.
Meanwhile, the BSE Sensex was up 98.93 points, or 0.46%, to 21,375.79.
On BSE, so far 7.48 lakh shares were traded in the counter, compared with an average volume of 9.04 lakh shares in the past one quarter.
The stock hit a high of Rs 108.30 and a low of Rs 103 so far during the day. The stock hit a 52-week high of Rs 127.70 on 7 January 2014. The stock hit a 52-week low of Rs 38.95 on 22 March 2013.
The stock had outperformed the market over the past one month till 5 March 2014, rising 4.51% compared with the Sensex's 5.01% rise. The scrip had also outperformed the market in past one quarter, rising 15.65% as against Sensex's 1.52% rise.
The small-cap company has an equity capital of Rs 22.76 crore. Face value per share is Re 1.
Delta Corp announced the launch of 'The Deltin', a 176-room property in Daman that will become the region's largest and most exciting destination for gaming and hospitality. The Deltin is the latest offering from Delta Corp following the recent launch of Deltin Royale, India's largest offshore gaming vessel in Goa. It is also Delta Corp's largest hospitality project in India to date.
Delta Corp also proposes to operate an in-house casino spread over 60,000 square feet (sq ft), which will make The Deltin India's largest contiguous integrated casino resort. Delta Corp is in the process of getting a 5-star certification for the hotel, and will subsequently commence casino operations, the company said in a statement.
"The opening of The Deltin is a milestone for us and underlines our efforts to provide luxurious yet accessible gaming and hospitality destinations in the country. I am confident that it will reshape the face of the industry in India," said Jaydev Mody, Chairman of Delta Corp.
The Daman property offers easy drive-in access from major urban centres such as Mumbai, Pune, Surat, Vadodara and Ahmedabad, as well as other major cities in the West and North, the company said.
The Deltin, which stands out for its stunning architecture against the Daman landscape, will provide top-of-the-line facilities to its guests such as luxury suites, four gourmet restaurants, three bars, 8,000 sq. feet of high-end retail, a luxury spa, and multiple banqueting facilities, the company added.
Each room in the hotel is equipped with top of the line luxury amenities, including 40" HD TVs, HD satellite programming, mini-bar, high-speed Internet connectivity, in-room safes, 24x7 room service, and early check-in options, among other facilities.
The hotel also boasts of the Emperor Restaurant (Asian Cuisine), Vegas (multi-cuisine), Whiskys (VIP Lounge with an exclusive collection of single malts), The Poolside Bar (Bar and Mediterranean style Grill and Barbecue), The Juice Bar (health drinks and fresh juices), and The Cake Shop, among others.
The Deltin will also provide about 30,000 sq ft of MICE space catering to large events such as corporate conferences and weddings. The banqueting division offers a one-stop shop for large and small group events, ranging from 20 to 2,000 persons, all equipped with a range of amenities that are seamlessly integrated into the event flow, Delta Corp said.
On a consolidated basis, Delta Corp's surged 103% to Rs 15.57 crore on 12.5% decline in net sales to Rs 90.47 crore in Q3 December 2013 over Q3 December 2012.
Delta Corp is a fast-growing Indian company operating primarily in two business segments-Gaming and Hospitality. Delta Corp., through its subsidiaries, owns three casinos (of which two are currently operational) and two hotels in Goa, as well as a luxury hotel in Daman. It holds three of the five gaming licenses issued in Goa. It is also the largest and only listed company in this space.
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