Deccan Chronicle Holdings Ltd shares plunged to a new low of Rs 5.24, down 4.9 per cent on the BSE during the morning trade today.
Its shares had registered a 52-week high of Rs 57 in February.
The Hyderabad-based publisher of English daily Deccan Chronicle is in the news for the liquidity crisis the company is faced with and the lenders initiating a series of cases, including a winding-up petition by one of the company lenders.
The company promoted Indian Premier League franchise Deccan Chargers, which represented the team from Hyderabad, has been removed from the league by the Board of Control for Cricket in India. The efforts by DCHL management to sell the IPL team did not materialise.
The negative news flow on the company, including one more petition on DCHL, seems to have impacted the market sentiment.