Delta Corp jumped 9.15% to Rs 108.50 at 11:48 IST on BSE after three bulk deals were executed in the counter.
Meanwhile, the S&P BSE Sensex was down 234.77 points, or 0.84%, to 27,746.94
A bulk deal of 3.42 lakh shares was executed on the Delta Corp scrip at Rs 109.55 per share at 10:29 IST on BSE. Another bulk deal of 2.40 lakh shares was executed on the scrip at Rs 109.50 per share at 10:30 IST on BSE. One more bulk deal of 1.02 lakh shares was executed on the scrip at Rs 109.35 per share at 10:31 IST.
Bulk deals boosted volume on the scrip. On BSE, so far 34.44 lakh shares were traded in the counter, compared with an average daily volume of 4.50 lakh shares in the past one quarter. The stock hit a high of Rs 112.35 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 99.60 so far during the day. The stock hit a 52-week low of Rs 49 on 29 February 2016. The stock had outperformed the market over the past one month till 2 August 2016, rising 5.63% compared with 3.08% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 24.17% as against Sensex's 10% rise.
The small-cap company has an equity capital of Rs 23.07 crore. Face value per share is Re 1.
Shares of Delta Corp had gained 1.69% to settle at Rs 99.40 yesterday, 2 August 2016, after the company announced turnaround Q1 June 2016 results. Based on consolidated financial performance, Delta Corp reported net profit of Rs 20.08 crore in Q1 June 2016 compared with net loss of Rs 1 crore in Q1 June 2015. Total income rose 39.3% to Rs 114.10 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on 1 August 2016.
Delta Corp attributed the strong Q1 June 2016 results to targeted marketing, increasing customer numbers and getting on board the right customers for stable income flow. The company also said in a Q1 results press release that Goa, where the bulk of the company's gaming operations lie, has become a year-round destination rather than seasonal destination.
Delta Corp holds three offshore gaming licences in Goa and has an integrated casino resort in Daman. The company also has three luxury hotel properties in Goa Deltin Suites, Deltin Palms and Villa Marina by Deltin.
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