Deccan Chronicle shares hit lower circuit as NSE suspends trading

Deccan Chronicle Holdings Ltd shed nearly 5 per cent on the bourses on Wednesday, hitting the lower circuit limit, after the National Stock Exchange (NSE) decided to suspend trading in the company's shares.

NSE had on Tuesday said trading in shares of Deccan Chronicle Holdings on its platform would be suspended from January 23.

A circular from the bourse said the reasons for suspension of trading in shares of DCHL include non-compliance with certain provisions of listing agreement, which includes non-submission of shareholding pattern, corporate governance governance report, financial results and reconciliation of share capital audit report for July-September 2012 quarter.

Deccan Chronicle shares opened 4.88 per cent lower from its previous close and hit a lower circuit of Rs 6.82 on BSE in early morning trade, in an overall sluggish stock market.

At NSE, the stock tumbled 4.90 per cent to Rs 6.80 - its lowest trading permissible limit for the day.

In the broader market, the BSE benchmark Sensex was trading at 19,923.33, down 63.49 points in afternoon trade.

With inputs from PTI