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

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