Delta Corp rises as its associate company to acquire 50% stake in WSPL Containers

Delta Corp is currently trading at Rs. 254.85, up by 1.30 points or 0.51% from its previous closing of Rs. 253.55 on the BSE.

The scrip opened at Rs. 251.15 and has touched a high and low of Rs. 260.90 and Rs. 251.15 respectively. So far 280667 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 308.55 on 10-Nov-2021 and a 52 week low of Rs. 134.30 on 03-Dec-2020.

Last one week high and low of the scrip stood at Rs. 262.00 and Rs. 242.10 respectively. The current market cap of the company is Rs. 6803.93 crore.

The promoters holding in the company stood at 33.28%, while Institutions and Non-Institutions held 13.40% and 53.32% respectively.

Delta Corp’s associate company — Waterways Shipyard (WSPL) has agreed to subscribe 50% of the paid-up equity share capital of WSPL Containers (WCPL). WCPL proposes to carry on the business of container manufacturing. Given that WSPL is an established shipyard operator on India’s western coast, this investment is expected to supplement WSPL’s existing operations. The said transaction is expected to be completed by December 31, 2021.

Delta Corp has been engaged in the business of textiles and real estate development/consultancy. The company has also diversified into gaming, entertainment, aviation, and hospitality.

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