Deccan Chronicle Holdings to be excluded from BSE-500

Bombay Stock Exchange (BSE) has decided to exclude Deccan Chronicle Holdings from the BSE-500 index.

The bourse has decided to exclude Deccan Chronicle Holdings and include Bharti Infratel in BSE-500 effective from January 21, it said in a statement.

National Stock Exchange (NSE) has already decided to suspend the trading in shares of DCHL from January 23, as the company failed to submit financial results and shareholding pattern data.

The NSE said in a circular that the reasons for suspension include non-compliance with certain provisions of listing agreement such as non-submission of shareholding pattern, corporate governance report, financial results and reconciliation of share capital audit report for July-September 2012 quarter.

Shares in Deccan Chronicle Holdings today fell by nearly 5 per cent to hit a lower circuit limit on the BSE.

The scrip opened 4.88 per cent lower from its previous close and hit a lower circuit of Rs 6.82 on the BSE, 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. The scrip was trading at a 52-week high of Rs 56.60 in February 2012.