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Deccan Chronicle Holdings scores well on putting up its IPL team for sale

15 Jun 2012 Evaluate

Deccan Chronicle Holdings is currently trading at Rs 32.45, up by 2.15 points or 7.10% from its previous closing of Rs 30.30 on the BSE.

The scrip opened at Rs 31.00 and has touched a high and low of Rs 33.75 and Rs 31.00 respectively. So far 517155 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 73.50 on 29-Jul-2011 and a 52 week low of Rs 25.95 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs 32.20 and Rs 30.00 respectively. The current market cap of the company is Rs 695.51 crore.

The promoters holding in the company stood at 73.83% while Institutions and Non-Institutions held 9.95% and 16.22% respectively.

Deccan Chronicle Holdings’ owned Deccan Chargers’ IPL team is up for sale and the company has roped in Religare Capital Markets as an ‘investment banker’ to find a prospective client, as per some media reports. Deccan Chronicle group in 2008, had acquired the franchise for $107 million, however the price at which the group is willing to bid the stake remains undisclosed.

Deccan Chargers is a cricket franchise based in the city of Hyderabad in the Indian Premier League (IPL). The team after finishing last in the first season of the IPL, won the second season held in South Africa in 2009, under the captaincy of former Australian wicket-keeper batsman Adam Gilchrist. Gilchrist was the captain of the team for the first three seasons of the IPL.

Deccan Chronicle Holdings is one of the leading publication houses in Andhra Pradesh (AP). Its publications include Deccan Chronicle, Andhra Bhoomi and Financial Chronicle.

Peers
Company Name CMP
D.B. Corp 214.40
Navneet Education 157.80
Jagran Prakashan 67.00
HT Media 23.96
Hindustan Media Vent 68.84
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