HUDCO shares drop over 11% as govt cuts PM Awas Yojana-Urban budget by Rs 10,377 crore

HUDCO shares fell 11% to Rs 192.5 following the governments Rs 19,794 crore allocation for the Pradhan Mantri Awas Yojana (PMAY)-Urban in the Union Budget for 2025-26. This marks a 34.4% reduction compared to the previous years allocation of Rs 30,171 crore. However, it reflects a 44.8% increase over the revised estimate for FY 2024-25.