Delta Corp stock jumps after gaming firm forms JV subsidiary with Peninsula Land

Delta Corp Share Price: Delta Corp jumped 2.95 per cent in the morning session on BSE on Friday (March 1, 2024) after the gaming and hospitality company formed a new subsidiary, Delta Penland Private Limited.

The stock of Delta Corp was up by 2.58 per cent, or Rs 3.50, at Rs 139.25 at 13:02 pm on Friday.

The stock that opened at Rs 137.70 on Friday jumped to the day's high of Rs 139.75, a 2.95 increase from the previous close of Rs 135.75. 

Delta Corp's JV subsidiary 

The company said on Thursday that it had approved the incorporation of “Delta Penland Private Limited”, a new wholly owned subsidiary, proposed to be the joint venture company between Peninsula Land Limited and the company for real estate development. 

The proposed authorised capital for the new subsidiary is Rs 1 crore comprising 10 lakh equity shares of Rs 10 each.

While the proposed paid up capital is Rs 10 lakh only, comprising 1 lakh equity shares of Rs 10 each.