Delta Corp is the top loser on the BSE. The stock has been on a losing spree for the past six sessions and has slumped over 22% during this time. Today it hit a new low at Rs.187.15.
There are news reports that the DG GST Intelligence has booked the company, along with another Goa based company for Rs.6189 crore tax evasion.
Report suggests that Delta evaded GST by artificially splitting values of services. It seems the company has paid GST on net revenue of casino instead of Face Value of bet.
Our Editor Mr.SP Tulsian has given a cautious view on the stock till there is clarity on this issue from the company