Stock Crash: There was a strong selling storm in the shares of real estate developer Hubtown today for the fifth consecutive day. Its decline, which has been going on due to weak market sentiment for four consecutive days, continued even today when the company decided to withdraw the proposed preferential shares. According to today’s intra-day low, its shares fell by more than 28% in five days and investors lost ₹1240 crore. As of now, Hubtown shares are currently down by 9.30% at ₹228.60 (Hubtown Share Price) on BSE. Today it slipped 13.37% to ₹218.35 in intra-day.
Why did Hubtown withdraw the proposal related to preferential shares?
Hubtown revealed in an exchange filing on Wednesday night, December 10, that in the current market conditions, investors were not enthusiastic about taking part in the proposed preferential issue. For this reason the company decided to withdraw this issue of 1,46,80,249 shares. This proposal was approved by the company’s board in the meeting held on August 30. The company further said that the decision to cancel the proposal for preferential issue of shares will not have a significant impact on the company’s business.
Hubtown has given more information
Hubtown has given more details along with the withdrawal of the preferential issue in the exchange filing. The company has revealed in another exchange filing that till November 10 this year, pre-sales of the company stood at ₹3547 crore while in FY 2025 this figure stood at ₹5022 crore. Apart from this, the company is going through the process of merging Marqui ultra-luxury projects into its listed entity which will increase its total development value from ₹85 thousand crore to ₹1.3 lakh crore. This merger will result in consolidation of over 50 lakh square feet of ultra-luxury inventory in South Mumbai.
How were the shares in one year?
Hubtown’s shares have made huge profits for the investors and in just three months it had increased the investors’ money by almost two and a half times. It was at a one-year low of ₹149.90 on BSE on 9 May 2025. From this low, it jumped 144.16% in just three months to reach a one-year record high of ₹366 on 26 August 2025. Now talking further, according to the details available on Indamoni, an analyst covering Hubtown has advised it to buy and has fixed the target price at ₹ 363.
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