Shares of Delta Corp and Nazara Tech surge in trade after a CNBC-TV18 report, quoting sources, said that online gaming companies may get a breather as the Union government is likely to soften its stance on the retro goods and services tax (GST) demand notices. Delta Corp stock price jumped over 6% to Rs 145.05 after the report, while Nazara Tech shares jumped 2% to hit a day’s high of Rs 882.95.
Sources told CNBC-TV18 that the government realises the existential issue that gaming companies face if they have to pay GST demands raised for the period between July 2017 to March 2023.
The GST issue has been an overhang and a sentiment negative for both these companies, leading to negative returns of 24% for Delta Corp in the last one year.
