In the context of the input sentence, determine the relationship between 'Hindustan Times' and 'New Delhi'.
Options: owned by, headquarters location, product/material produced, 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