India's Delta Corp extends fall after Equirus Wealth sells shares

Delta

13/07/2023 06:43

** Shares of casino gaming firm Delta Corp Ltd  DELT.NS 
fall as much as 5% to 180 rupees 
    ** Stock set for second straight session of losses, if
declines hold
    ** Equirus Wealth sells about 2.5 mln shares in a bulk deal
on Wednesday
    ** DELT stock closed ~23% down on Wednesday after India
imposed a 28% tax on casino firms and online gaming companies 
    ** Stock trading below its 50-, 100-, and 200-day moving
averages, suggesting bearish bias
    ** Relative strength index (RSI) below 30, indicating stock
is oversold
    ** Trading volume at ~25 mln shares, 4.7 30-day avg of ~5.3
mln shares as of 10:50 a.m. IST 
    ** Stock down ~15% YTD


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))