Deccan Chronicle continues southward journey

Stock has made a new low at Rs 13.30

Deccan Chronicle holdings is trading lower by 4.6%, continuing its southward journey at its fresh 52-week low price of Rs 13.30 on the Bombay Stock Exchange on reports of cheating allegations against the promoters levied by the Hyderabad-based Karvy Stock Broking.

The Hyderabad-based financial services player Karvy group has filed a police complaint against the promoters of DCHL leveling allegations of forgery and misrepresentation.

Meanwhile, reports suggest that the Securities and Exchange Board of India (SEBI) is looking at Deccan Chronicle Holdings (DCH) promoter holding details. SEBI has asked depositories for Deccan Chronicle share details.

The stock witnessed a gap down opening and touched the new low of Rs 13.28. As many as 22,000 shares have changed hands on the BSE compared to its two-week average of 9,50,000 shares.