Deccan Chronicle Holdings has hit the lower circuit filter of 5% at Rs 6.80 with no buyers in the counter, after the National Stock Exchange (NSE) said that the trading in company’s shares will be suspended with effect from January 23, 2013 as the company failed to respond to NSE notice for non-compliance of listing agreement.
According to a circular issued by the NSE on Tuesday, non-compliance with the provisions of listing agreement is the reason for the suspension from trading. Non-compliance provisions include non-submission of corporate governance report, financial results and reconciliation of share capital audit report for the quarter ended September 30, 2012.
The stock opened at Rs 6.80 on NSE and has seen a combined 21,251 shares changing hands on the counter in opening deals. There pending sell orders for 2.28 million shares on the NSE and BSE.
