Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have sold Delta Corp shares this month, the ace investor informed the stock exchanges.
In a filing on BSE, Rakesh Jhunjhunwala informed that he and his wife have sold 75 lakh equity shares of the company in the market over the last few days. The Delta Corp stock price has tanked 20% this month, extending its year-to-date losses to more than 30% now.
The gaming and hospitality firm that owns and operates casinos and hotels under several brands has been part of Rakesh Jhunjhunwala’s portfolio for years now. The stock was trading at Rs 180 per share on Wednesday.
“From the period from June 1, 2022, to June 10, 2022, I along with persons acting in my concert have reduced the holdings by 60,00,000 equity shares of Delta Corp which is 2.24% of the total issued and paid-up capital of Delta Corp,” Rakesh Jhunjhunwala said in a letter.
Often called the big bull of Dalal Street, Rakesh Jhunjhunwala owned 1.65 crore equity shares of Delta Corp at the end of last month. This translates to a 6.16% stake in the company. Jhunjhunwala further informed that he sold another 15 lakh shares of the company on June 13 and June 14.
With this, the total sale of shares by the Jhunjhunwala’s accounted for 2.80% of the total issued and paid-up capital of Delta Corp.
Rakesh Jhunjhunwala shareholding
As per the latest exchange communication by Delta Corp, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together hold 90 lakh Delta Corp shares.
Jhunjhunwala couple informed Indian exchanges that they have sold 75 lakh Delta Corp shares in June whereas their stake in the online gaming and hospitality stock stood at 2 crore shares in the January to March 2022 quarter. So, the Jhunjhunwala couple sold out 1.1 crore Delta Corp shares in Q1FY23.
Share Action
The share touched an intraday high of Rs 190.80, rising 6.05 percent on BSE. Delta Corp stock is trading lower than 5day, 20-day, 50-day, 100-day, and 200-day moving averages.
The share has lost 27.37 percent in a year but risen 4.39 percent in 2022. A total of 1.68 lakh shares of the firm changed hands amounting to a turnover of Rs 3.13 crore on BSE. The market cap of the firm rose to Rs 5,048 crore.
The mid-cap stock hit a 52-week high of Rs 339.50 on April 6, 2022, and a 52-week low of Rs 165 on August 23, 2021.
In Q4 of the previous fiscal, 2,52,594 public shareholders held a 66.77 percent stake or 17.84 crore shares in the firm.
Nine promoters held a 33.23 percent stake or 8.87 crore shares in the last quarter.
About Company
Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality, and real estate.
The gaming company’s consolidated net profit fell 16.72% to Rs 48.11 crore on a 3.30% increase in net sales to Rs 218.32 crore in Q4 FY22 over Q4 FY21.
