Deccan Chronicle

DCHL ex-director Sukumar Reddy gets bail in cheque bounce case

DCHL ex-director Sukumar Reddy gets bail in cheque bounce caseMenakuru Sukumar Reddy, one of the former directors of the beleaguered Deccan Chronicle Holdings Ltd (DCHL), managed to get a bail from a Chandigarh court on Thursday in a cheque bounce case worth crores of rupees.

There were non-bailable warrant against Reddy but the court granted the bail on merit because it was not a criminal complaint. He was granted bail against bonds of Rs 20 lakh (Rs 5 lakh each in four different cases registered against him).

DCHL ordered to furnish security of Rs 101cr to Tata Capital

DCHL ordered to furnish security of Rs 101cr to Tata CapitalThe Bombay High Court has ordered media firm Deccan Chronicle Holdings Limited (DCHL) and its promoter T Venkattram Reddy to give security of 101 crore to its lender Tata Capital within four weeks.

In March 2011, Tata Capital had lent Hyderabad-based DCHL 100 crore against a personal guarantee by T Venkattram Reddy, a promoter of the company.

Tata Capital had asked the company to repay the entire loan amount after the company defaulted on short-term non-convertible debentures and suffered a rating downgrade.

Four DCHL independent directors resign

Four DCHL independent directors resignDeccan Chronicle Holdings Ltd (DCHL) on Monday revealed that all of its four independent directors had resigned from the company's board.

The four independent directors who resigned from the board are: M Sukumar Reddy, P Siddhartha, G Kumar and V Suresh.

The beleaguered company, however, didn't give any reasons for its board members' resignations.

Intraday Buy Call For Deccan Chronicle

Intraday Buy Call For Deccan ChronicleTechnical analyst MB Singh has maintained 'buy' rating on Deccan Chronicle Holdings Limited stock with a target of Rs 118.

The analyst said that the stock can be purchased with a stop loss of Rs 105.

The stock of the company, on December 29, closed at Rs 108.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 180.05 and a low of Rs 95.75 on BSE.

Current EPS & P/E ratio stood at 10.54 and 10.23 respectively.




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