Deccan Chronicle Holdings has locked in 5% lower circuit at Rs 8.31 for a third consecutive day on the Bombay Stock Exchange.
The stock currently trading at its historic low has fallen 13.5% in past three trading sessions after the Board of Control for Cricket in India (BCCI) has terminated the company’s team Deccan Chargers franchise from the Indian Premier League (IPL) as the promoters failed to present a bank guarantee of Rs 100 crore to the Indian cricket board.
The stock opened at Rs 8.75 and has seen a combined 1.33 million shares changing hands on the counter so far on both the exchanges. The stock has tanked 85% from its 52-week high of Rs 57 touched on February 17 this year.
