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Hubtown surges 7% on divesting entire holdings in subsidiary

The company has divested and transferred its entire holding of 4,720 equity shares in its subsidiary namely Heet Builders.

February 25, 2019 / 10:57 AM IST
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Shares of Hubtown surged 7.4 percent intraday Monday after company divested its entire holding in its subsidiary company.

The company on February 22 divested and transferred its entire holding of 4,720 equity shares in its subsidiary namely Heet Builders (Heet) in favour of the acquirers Jignesh Shah and Nitin Shah.

Consequently, Heet has ceased to be a subsidiary of the company from the said date.

At 10:48 hrs Hubtown was quoting at Rs 35.70, up Rs 1.35, or 3.93 percent on the BSE.

The share touched its 52-week high Rs 96.25 and 52-week low Rs 31.25 on 27 February, 2018 and 12 February, 2019, respectively.

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Currently, it is trading 62.91 percent below its 52-week high and 14.24 percent above its 52-week low.

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Moneycontrol News
first published: Feb 25, 2019 10:56 am
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