Deccan Chronicle plans to launch a financial daily

Shubhrangshu Roy has been appointed chief operating officer of the financial paper

Deccan Chronicle is planning to launch a financial daily in the coming months. When contacted, PK Iyer, managing director, Deccan Chronicle Holdings, said the details of the launch are still being worked out.

According to Iyer, there is growing demand for a financial daily in the Southern markets. The country’s economy is booming. Business news is growing increasingly important and a stock market crash makes the front page headlines. Deccan Chronicle will only expand its readership base by meeting this need.

The board of directors of the company has appointed Shubhrangshu Roy as chief operating officer of the financial paper. Deccan Chronicle has a circulation of 6,49,469 copies in Anantapur, Hyderabad, Karimnagar, Nellore, Rajahmundry, Vijayawada and Visakhapatnam, as of January-June 2007, according to ABC. The Chennai edition of the newspaper has 2,98,822 circulating copies for the same period. The publication claims that its circulation has gone up to 10,03,171 copies for July-December 2007, as per ABC.

The company has also formed a joint venture firm with Group M (a WPP company) to create a market in the sport and event management space through its wholly owned subsidiary, Sieger Solutions. In another development, the company has appointed Mohit Mohan as the chief executive officer of Odyssey India, a South India based retail chain. Mohan was earlier heading the operations of Wal-Mart International.