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Journalism of Courage
Shares of Deccan Chronicle Holdings today jumped over 12 per cent on the buzz that it has sold its entire stake in the Hyderabad IPL team,Deccan Chargers,for USD 300 million.
Shares of Deccan Chronicle Holdings Ltd (DCHL) settled at Rs 138,up 12.15 per cent on the Bombay Stock Exchange. Shares during the trade surged 14.34 per cent to touch a month-high at Rs 140.70.
A similar trend was seen on the National Stock Exchange,where the scrip closed at Rs 134.70,up 9.47 per cent. On the volume front,over Rs 95.4 lakh shares of the company changed hands on both the bourses.
The sudden spurt in the stock was witnessed amid media reports that the company has sold 100 per cent stake in Deccan Chargers,the franchise that represents Hyderabad in the Indian Premier League,for USD 300 million.
