Riding high on the market buzz that company is considering selling their stake in the Indian Premier League (IPL) team, shares of Deccan Chronicle Holdings Ltd. zoomed over 11 per cent on the Bombay Stock Exchange in the early trading.
The company has roped Religare Capital Markets to find the prospective buyers, sources close to the subject said.
Cheering the news, shares of the company started the day on positive note and witnessed a gain of as much 11.38 per cent to Rs 33.75 a piece on BSE.
There was also spurt in volume of trade with 4.54 lakhs shares changing hands till now compared to average of 1.90 lakhs shares in daily trade on BSE.
In a similar fashion, shares of the company were trading at Rs 32.60, up 7.24 per cent on the National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 16,798.05, up 120.17 points or 0.72 per cent at 10:18 hours.