India's Delta Corp rises on report apex court stays tax order

Delta

10/01/2025 07:29

** Shares of Delta Corp  DELT.NS  rise 5% after media report
says India's Supreme Court stays tax order on online gaming
companies
    ** The court has stayed Directorate General of GST
Intelligence's demand for tax arrears of 1.12 trillion rupees
($13.04 bln) on online gaming companies and casinos, Economic
Times reports
        ** DELT got notice to pay tax arrears worth 63.84 bln
rupees in Oct. 2023 and 111.40 bln rupees in Sept. 2023, while
NAZA's units 
    got
     tax orders of 8.46 bln rupees and 2.74 bln rupees in July
2024 
  
        ** Delta declined 1% before the report, while Nazara
Technologies  NAZA.NS  was trading around 3% lower; NAZA last
down 1%
  
    ** Trading vols at 8.5x and 3x the 30-day avg for DELT and
NAZA, respectively
    ** DELT fell 24% in 2024, while NAZA rose 18% 


($1 = 85.8775 Indian rupees)

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))