SHARES OF CASINO operator Delta Corp lost over a fifth of their value while those of online gaming firms crashed on Wednesday, a day after the GST council imposed a 28% tax on such firms.
According to experts, the decision is expected to be a blow to the online gaming firms as they fear the shutdown of their businesses.
Delta Corp hit the lower circuit at 10% of ₹225.15 on BSE at the opening of the trading session. Due to increased selling pressure, the stock price plunged nearly 23% and hit an intra-day low of ₹178.20.
While Nazara Technologies cracked over 14%, OnMobile Global fell nearly 9% and Zensar Technologies was down 1.39%. The stocks trimmed some losses before the session ended.
This story is from the July 13, 2023 edition of Financial Express Mumbai.
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This story is from the July 13, 2023 edition of Financial Express Mumbai.
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