Rakesh Jhunjhunwala Portfolio But after giving fresh breakout At 310 level, Delta Corp share price has been in an ‘uptrend’ and the stock is climbing to its new 52-week high for the past three sessions. According to experts, the stock is looking ‘bullish’ on the chart pattern and it may break its existing barrier position 350 per share level in the near term. He further added that the company’s decision to explore an opportunity to monetize the Gaussian network through a public offering has gone down well with Dalal Street observers.
shed light on the fundamentals that support it Rakesh Jhunjhunwala Portfolio Stocks, Santosh Meena, Head of Research, Swastika Investmart Ltd said, “Delta Corp is a good stock to ride out the post covid open-up opportunity and the growing organized gaming industry. It is the only listed casino stock in India. Percentage of market share in the organized casino market and its three major areas of business are casino, online gaming and hospitality. The company, through its subsidiary, Gaussian Networks, owns online gaming sites such as ‘Adda52rummy.com’ and provides services such as fantasy league, poker, rummy, and other real money games.”
on Delta Corp Management’s decision to monetize Gaussian Networks through an IPO and unlock the theme impact on the company’s business; Santosh Meena, Swastika Investmart Ltd. said, “During the third quarter of FY 2022, the company has decided to explore the opportunity to monetize the Gaussian network through an IPO. The company’s board has decided to explore the potential public issue. Approved the appointment of advisors, bankers and other intermediaries. And the listing of equity shares. In the December quarter of the current financial year, the company was able to come out of post-Covid as it is after 2 consecutive loss-making quarters. Turns profitable. While the long-term outlook for the company is bullish, any negative surprises on the Covid front could hurt the near-term sentiment. Daman Casino awaits approval for too long; any favorable results from regulators Company The fate may change.
Sharing important levels with respect to this Rakesh Jhunjhunwala stock; Sumeet Bagdia, Executive Director, Choice Broking said, “Delta Corp shares have given fresh breakout recently. 310 levels. After that breakout the stock maintained its uptrend and formed a new range from 310 350 levels. Stock looks positive on chart pattern and it may break its existing hurdle 350 levels in the near term.” He placed the next hurdle after the 350 level 375 and the current bull pattern appearing on the chart indicates that the stock may continue to move higher in the next one month.
Rakesh Jhunjhunwala’s stake in Delta Corp
Rakesh Jhunjhunwala and Rekha Jhunjhunwala have invested in the company as per the shareholding pattern of Delta Corp for the period October to December 2021. Rakesh Jhunjhunwala holds 11.5 million shares or 4.31 per cent stake in Delta Corp, while Rekha Jhunjhunwala holds 85 lakh shares or 3.18 per cent stake in the company. Therefore, the Jhunjhunwala couple holds 20 million shares of Delta Corp, which is approximately 7.49 per cent of the total paid-up capital of the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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