New Delhi, May 29 -- Shares of gaming companies came under heavy selling pressure on Friday, May 29, after the Supreme Court upheld the government's retrospective imposition of 28% Goods and Services Tax (GST) on online gaming platforms. The verdict is expected to have significant financial implications for the sector, which has been locked in a prolonged legal battle over the tax treatment of online gaming activities.

Delta Corp emerged as the biggest loser among listed gaming companies, plunging as much as 16% to an intraday low of Rs.68 on the BSE. Nazara Technologies also traded lower, falling 3.5% to an intraday low of Rs.279.35.

The Supreme Court ruled that online gaming platforms cannot be treated merely as intermediaries and hel...