Tata Capital sues DCHL over Rs 1 bn dues; stk tumbles over 4%
05th September 2012 11:18 AM
Tata Capital has moved Bombay HC for a recovery demand of Rs 1 billion from Deccan Chronicle Holdings (DCHL), media reports quoted.
The High Court has granted an interim relief to Tata Capital while six accounts of DCHL have already been attached. The suit follows non-payment of dues by DCHL to Tata Capital. DCHL is reacting negatively to the development, slipping 4% on Wednesday.Shares ofthe companyare trading at Rs 12.99, down Rs 0.55, or 4.06% at the Bombay Stock Exchange (BSE) on Wednesday at 10:02 a.m.The scrip has touched an intra-day high of Rs 13.89 and low of Rs 12.87. The total volume of shares traded at the BSE is 516,650.
In the earlier session, the shares gained 4.96%, or Rs 0.64, at Rs 13.54. Currently, the stock is trading down 79.46% from its 52-week high of Rs 63.25 and above 36.02% over the 52-week low of Rs 9.55.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 13.30 0.24 1.80 1 Month 14.20 (0.66) (4.65) 3 Months 30.05 (16.51) (54.94) 6 Months 40.50 (26.96) (66.57) 1 Year 58.90 (45.36) (77.01) Note: Based on previous day closing price.
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