harpoon
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Beacuse there are lot of reasons. First, Hyderabad has become one of the nerve centres for economic activity. Many fear Hyderabad going to Telangana would means the city could lose business to Bangalore and Chennai. Second, 50% of the city population consists of Muslims and they are there since Nizam's times. They don't want to be a part of Telangana because BJP is strong in Telangana. Third, the Andhrarites have invested billions of dollars into real estate, businesses and industries. They fear about their investments. Then there is naxal problem and there lot of other issues
A lot of non-Marathas like the Tatas & Ambanis have made investment amounting to billions in Mumbai, but that didn't change the fact that Mumbai is the capital of Maharashtra State nor did Gujurat or other states asked for any stake in the city. Same applies to Hyderabad.Hyderabad is in Telegana region, you cannot shift to Coastal Andhra. The best way is for the 2 states to share the city as a common capital with control under the Telegana.
As far as UT for HYD is considered, a lot Mumbaikars of non-Maratha region will also favour UT status for Mumbai but that not gonna happen.