Rakesh Jhunjhunwala Portfolio: After giving a new breakout at Rs 310 per share, shares of Delta Corporation were bullish and this is creating its new 52 week high for the last 3 trading sessions. According to market experts, the chart pattern of this stock is looking very bullish and in the near term it may break the first barrier at Rs 350. Experts say the company is preparing to launch a public issue of the Gaussian network. The market liked the company’s decision.
Swastika Investmart K Santosh Meena says that Delta Corporation looks good from an investment standpoint. The company has the potential to grow further in the post-Covid opening season. It is the only listed casino stock in India. Which has 55% share of the organized casino market. The company has 3 types of business. This casino is in the business of online gaming and hospitality. The company operates the online gaming site ‘Adda52rummy.com’ through its affiliate Gaussian Network. On which Fantasy League, Poker, Rami and other real money games are available.
Santosh Meena says the company is preparing to launch an IPO for Gaussian Networks. The company’s board has also approved the appointment of advisers and bankers for this. He added that the long-term outlook of the company is looking very good but if any new problem arises from the side of Covid-19, it could hurt the near-term feeling. In addition, the company’s suppression casino has been waiting for approval for a long time. If there is any positive news from here, the transformation of the company will take place.
Other market experts Sumit Bagdia of Choice Broking Says that the share of Delta Corporation has given a new breakout from the level of Rs 310. After this breakout, the stock was seen moving in the new range of Rs 310-350. Currently, its chart pattern is looking very good and in the near future it will be seen breaking the level of Rs 350 and then its next target will be Rs 375. The stock chart pattern indicates that it will continue to rise over the next 1 month.
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Rakesh Jhunjhunwala’s shareholding in Delta Corporation
Looking at Delta Corporation’s shareholding pattern from October to December 2021, both Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have a combined stake of 20 million shares or 7.49 percent.