HUDCO shares plunges over 11% amid govt announces budget allocation for PM Awas Yojana-Urban
On February 3rd, HUDCO shares had already experienced a notable decline of around 10%. The stock initially opened at Rs 214, which was also the day's intraday high, but by 12:30 PM, it had dropped to Rs 199.15.
HUDCO shares plunges over 11 amid govt announces budget allocation for PM Awas Yojana-Urban
State-run Housing and Urban Development Corporation (HUDCO) shares fell by over 11%, trading at Rs 192.50 on Monday on the BSE. This drop followed the government's allocation of Rs 19,794 crore for the Pradhan Mantri Awas Yojana (PMAY)-Urban in the Union Budget for 2025-26.
This amount represents a significant cut of 34.4%, or Rs 10,377 crore, compared to the Rs 30,171 crore allocated in the Budget for 2024-25.
On February 3rd, HUDCO shares had already experienced a notable decline of around 10%. The stock initially opened at Rs 214, which was also the day's intraday high, but by 12:30 PM, it had dropped to Rs 199.15.
So far this month, the stock has seen an approximate decline of 19%, and over the past six months, it has decreased by 31%. In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman emphasized the government's commitment to addressing the housing needs of Indian families.
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As part of the Special Window for Affordable and Mid-Income Housing (SWAMIH) scheme, she announced that 40,000 housing units would be completed in 2025-26, targeting families who have faced the financial burden of paying both home loans and rent for apartments that have yet to be delivered.
Additionally, the Budget 2025 proposed an increased allocation of Rs 15,000 crore to the newly introduced SWAMIH Fund 2, aiming to support the completion of 1 lakh more housing units, offering much-needed relief to homebuyers stuck in delayed real estate projects.
The budget also proposed a significant increase in the threshold for TDS on rent, raising the limit from Rs 2.4 lakh to Rs 6 lakh annually. This change is expected to benefit small taxpayers and landlords, reducing compliance burdens and providing a boost to the real estate sector.
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