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Big traders exit gaming stock Delta Corp as GST rates rise
Mint Mumbai
|July 14, 2023
Six out of the seven clients holding large derivatives positions in Delta Corp., a gaming and casino company, closed their positions following the 11 July Goods and Services Tax (GST) Council meeting. The stock, which plunged 23% after the council decided to raise GST rates on gaming and casinos from 18% to 28%, prompted these clients to take immediate action.
After they closed their positions, the Delta Corp.stock was removed from the futures and options (F&O) ban it had been subjected to on 7 July.
This story is from the July 14, 2023 edition of Mint Mumbai.
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