Deccan Chronicle on a roll over growth plans

DALAL STREET SPIKES

The company, which is already taking steps to consolidating its position in the south as a publisher of English daily, has shot up by 15.80 per cent in a single session on Monday.

The company is also scheduled to firm up plans on FCCB and GDR options at the meeting. The trigger came from its announcement that the company would consider various organic and inorganic growth options at its board meeting on September 5. Over 8.23 lakh shares of the company changed hands.

"The company was in talks with a few dailies in the south for acquisition in the last couple of months. The meeting next week is likely to give shape to these plans making the company a major player," a dealer said.

The company recently acquired control of Asian Age Holdings, which publishes the newspaper, Asian Age, in five cities. Deccan Chronicle Holdings launched the Chennai edition of its English daily in March 2005.