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India's Delta Corp shares sink on $1.34 bln tax blow

Reuters · 1y

Shares of Indian casino operator Delta Corp plunged by 20% after receiving a notice to pay 111.40 billion rupees ($1.34 billion) in tax arrears. The company and its units also received intimations of an additional tax shortfall of 56.83 billion rupees. This adds to the challenges faced by the gaming company, which has already been dealing with elevated levies imposed by the federal government. The stock's decline is the sharpest since July 12, when a 28% indirect tax was imposed on gaming companies. The shares have fallen by 32% this year.