Mumbai: National Stock Exchange Tuesday said trading in shares of Deccan Chronicle Holdings on its platform will be suspended from January 23, as the company failed to submit financial results and shareholding pattern data.
The NSE said in a circular that the reasons for suspension of trading in shares of DCHL include non-compliance with certain provisions of listing agreement, which includes non-submission of shareholding pattern, corporate governance governance report, financial results and reconciliation of share capital audit report for July-September 2012 quarter.
As per their Listing Agreement with the stock exchanges, the listed entities are required to submit financial results, shareholding data and other details for every quarter, which are then published by the bourses on their website.
NSE has also decided to suspend trading in shares of another company, IOL Netcom Ltd, with effect from January 23, as the company failed to provide financial results for the quarter ended September 30, 2012.
Shares of DCHL today rose by 4.38 percent to Rs 7.15 at the NSE. Scrips of IOL Netcom stock fell by 3.26 percent to Rs 4.45.