NSE to suspend Deccan Chronicle trading; stock dips 5%

Shares of the Deccan Chronicle dropped 5% in morning trade after the National Stock Exchange notified that trading of Deccan Chronicle will be suspended.

Trading will be suspended from January 23, 2013 which is after closing hours of trading on January 22, 2013.

The NSE stated that the suspension is due to non-compliance with provisions of Listing Agreement which inter-alia includes non submission of shareholding pattern under clause 35, non submission of corporate governance report under clause 49, non submission of financial results under clause 41 and non-submission of reconciliation of share capital audit report for the quarter ended September 30, 2012 .

The stock on Wednesday hit a lower circuit of 5% at Rs 6.80 on NSE.

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