Buy Delta Corp, target price Rs 350: Yes Securities

Yes Securities has buy call on Delta Corp with a target price of Rs 350. The current market price of Delta Corp Ltd. is Rs 320.4. Time period given by analyst is Intra Day when Delta Corp Ltd. price can reach defined target.

Delta Corp Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 8547.20 Crore) operating in Tourism & Hospitality sector.

Delta Corp Ltd. key Products/Revenue Segments include Sale of services and Income From Casino Operations for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 252.20 Crore, up 205.62 % from last quarter Total Income of Rs 82.52 Crore and up 95.61 % from last year same quarter Total Income of Rs 128.93 Crore. Company reported net profit after tax of Rs 71.29 Crore in latest quarter.

Investment Rationale
The stock has broken out from a channel consolidation pattern on higher volumes and turned upwards, triggering a resumption of the uptrend. Technical Indicators are also favouring the same.

Promoter/FII Holdings
Promoters held 33.26 per cent stake in the company as of 31-Dec-2021, while FIIs owned 5.8 per cent, DIIs 10.89 per cent.