Delta Corp Tanks 22% in Three Sessions After SC GST Blow; Nazara Tech Slips 7%

Shares of $DELTACORP orp plunged nearly 22% over three trading sessions following a major Supreme Court setback for the online gaming industry. The apex court upheld the 28% GST levy on online gaming and validated retrospective tax demands raised by authorities on past transactions. The ruling has triggered fresh concerns over profitability and cash flows for gaming and hospitality firms. Delta Corp, a leading player in the gaming and entertainment space, bore the maximum brunt with heavy selling pressure. Nazara Technologies also declined around 7% in the same period, reflecting broader weakness in the sector. Market participants fear that the retrospective tax liability could significantly impact balance sheets of several companies. The verdict is seen as a major blow to an industry that was hoping for some relief on tax clarity. Investors will now closely watch how companies manage the additional tax burden going forward.