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Hubtown spurts on divesting entire holding in Heet Builders

25 Feb 2019 Evaluate

Hubtown is currently trading at Rs. 35.25, up by 0.90 points or 2.62% from its previous closing of Rs. 34.35 on the BSE.

The scrip opened at Rs. 36.90 and has touched a high and low of Rs. 36.90 and Rs. 35.15 respectively. So far 1503 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 96.25 on 27-Feb-2018 and a 52 week low of Rs. 31.25 on 12-Feb-2019.

Last one week high and low of the scrip stood at Rs. 36.90 and Rs. 33.00 respectively. The current market cap of the company is Rs. 256.76 crore.

The promoters holding in the company stood at 57.20%, while Institutions and Non-Institutions held 4.07% and 38.73% respectively.

Hubtown has divested and transferred its entire holding of 4,720 equity shares in its subsidiary -- Heet Builders in favour of the acquirers Jignesh Shah and Nitin Shah and consequently, Heet has ceased to be a subsidiary of the company with effect from February 22, 2019.

Hubtown engaged in the development, sale, and lease of commercial, residential, retail, and industrial properties. The company's project portfolio primarily comprises residential projects, commercial projects, special economic zones, SRAs, IT parks, biotech parks, robotic car parks, retail parks, and textile parks.

Peers
Company Name CMP
Lodha Developers 1115.10
Prestige EstatesProj 1458.00
Dilip Buildcon 425.25
DLF 631.05
Oberoi Realty 1778.00
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