Shares of Deccan Chronicle Holdings Ltd hit a new low on the BSE today, quoting at Rs 7.54, down 4.92 per cent. The scrip had registered a 52-week high of Rs 57 in February 2012.
Shares of the Hyderabad-based company, the publisher of English daily Deccan Chronicle, have been finding new lows on negative news flow.
The company has piled up huge debt and its efforts to sell Indian Premier League team Deccan Chargers have not materialised.
Following the Board of Control for Cricket in India (BCCI) termination of the team from IPL league, its bid to seek relief from the Bombay High Court and later from the Supreme Court too did not yield results.
It is faced with several cases, including winding up petitions by IFCI.