Hubtown corrects on profit booking

Hubtown hit a lower circuit limit of 10% at Rs 126.70 at 11:58 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was down 47.57 points, or 0.15% to 31,261.92.

On the BSE, 94,000 shares were traded in the counter so far, compared with average daily volumes of 2.18 lakh shares in the past one quarter. The stock had hit a high of Rs 142.05 and a low of Rs 126.70 so far during the day. The stock hit a 52-week high of Rs 173 on 11 May 2017. The stock hit a record low of Rs 81.55 on 15 November 2016.

The stock had underperformed the market over the past one month till 5 June 2017, falling 15.26% compared with 4.86% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 54.67% as against Sensex's 7.97% rise. The scrip had also outperformed the market in past one year, rising 40.26% as against Sensex's 16.92% rise.

The small-cap company has equity capital of Rs 72.74 crore. Face value per share is Rs 10.

Shares of Hubtown rose 15.84% in three trading sessions to settle at Rs 140.75 yesterday, 5 June 2017 2016, from its close of Rs 121.50 on 31 May 2017.

Net profit of Hubtown declined 16.21% to Rs 6.41 crore on 262.93% rise in net sales to Rs 266.39 crore in Q4 March 2017 over Q4 March 2016.

Hubtown is a real estate development company. Hubtown has projects in 7 Indian cities and is diversified into residential spaces, office spaces, IT parks, Special Economic Zones (SEZs).

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