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Stocks

Rakesh Jhunjhunwala Increases Stake In Delta Corp To 10.28%

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We bring you the “Big Deals” for today. A summary of the most important Bulk and Block Deals.
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Delta Corp – engaged in the business of gaming & entertainment with interests in hospitality and real estate. The Company has business interests in India, Sri Lanka and Kenya.
The company possesses three out of the six issued offshore gaming licenses in the state of Goa and is the largest and only listed company within the gaming and hospitality segment in India.
Delta Corp reported a revenue of Rs. 139 crore against Rs. 96.80 crore Q2 last year which translated into a Net Profit of Rs. 30.96 crore against Rs. 4.42 crore.
Rakesh Jhunjhunwala who held a consolidated 2.15 crore shares or 9.32% for the quarter ended June, 2016 – purchased an additional 10 lakh shares during Q2 ended September, 2016 and today bought an additional 12.50 lakh shares at a price of Rs. 106.54/- per share. This brings the value of the deal to Rs. 13.31 crore. (Rakesh Jhunjhunwala is a Non Executive, Non Independent Director of the company and sits on the meetings of the board).
With this purchase, shareholding of Rakesh Jhunjhunwala including his wife Rekha Jhunjhunwala and his company Rare Enterprises comes to 2.375 crore shares or 10.28%. The stock closed at Rs. 112.50 or +8.06 %.
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