Business News: Delta Corp’s Shares Witness Lowest Decline of 20% After GST Notice

25 Sep, 2023 Author: Ayushee Joshi

Share Market News: Delta Corp’s shares dropped dramatically on Monday. The shares fell by more than 19% on the BSE, eventually reaching roughly Rs 140.20, a 52-week low. Delta Corp was issued a tax notice by the GST Authority for failing to pay a tax of Rs 11,140 crore. In addition, the company must pay Rs 16,822 crore in penalties and interest. The corporation owes GST from July 2017 to March 2022.

Delta Corp Market Share Price

After receiving the government’s notice, the company’s shares plunged 15% and then 20% in early trade on September 25. On the BSE, the stock began down at Rs 157.75 this morning and opened at Rs 157.90 on the NSE, with a continuous decrease. Delta Corp’s tax payment to the government is more than double the company’s income during the previous ten years. Fortunately, the firm has no debt to pay. The notification comes at a time when the firm is already struggling owing to strict regulations.