Deccan Chronicle Holdings in demand

Deccan Chronicle Holdings jumped 10% to Rs 120 at 12:48 IST on BSE on market buzz the firm is planning share placement at about Rs 140 each.

On Wednesday, 11 June 2008, the stock had risen 7.62% at Rs 108.80.

Meanwhile, the BSE Sensex was down 264.85 points, or 1.74%, at 14920.30, hit by the Reserve Bank of India's decision to raise short term interest rates and on weak global cues.

On BSE, 7.31 lakh shares were traded in the counter. The scrip had an average daily volume of 68,994 shares in the past one quarter.

The stock hit a high of Rs 123.45 and a low of Rs 108 so far during the day. The stock had a 52-week high of Rs 270.10 on 4 January 2008 and a 52-week low of Rs 99.05 on 10 June 2008.

The scrip had underperformed the market over the past one month till 11 June 2008, falling 25.78% compared to the Sensex's 9.36% decline. It had also underperformed the market in the past one quarter, falling 28.02% compared to Sensex's 1.12% fall.

The mid-cap newspaper publisher has an equity capital of Rs 48.98 crore. Face value per share is Rs 2.

The current price of Rs 120 discounts its Q3 December 2007 annualised EPS of Rs 16.81, by a PE multiple of 7.13.

Deccan Chronicle Holdings' net profit rose 112.5% to Rs 102.94 crore on 47.7% growth in net sales to Rs 216.20 crore in Q3 December 2007 over Q3 December 2006.

Deccan Chronicle Holdings' principle activity is to publish newspapers. The company's English daily is circulated in Hyderabad and Andhra Pradesh.