Take context from the input text and decide on the accurate relationship between 'Hindustan Times' and 'New Delhi' from the options provided.
Options: owned by, product/material produced, headquarters location, brand

Sruthin Lal, Hindustan Times , New Delhi | Updated: Aug 17, 2015 16:28 IST Ordinary traders are concerned over algorithmic trading and co location facility, calling them unfair (HT Photo)
headquarters location