Bajaj Auto stock in focus as board to consider buyback of shares today. Details here
₹4,600 per equity share. The previous Bajaj Auto share buyback size was ₹2,500 crore done through the open market route.
Read here: Bajaj Auto board to consider buyback of equity shares on Monday; stock hits record high Rajiv Bajaj, managing director of the Pune-based two-wheeler maker Bajaj Auto has indicated the buyback of shares this time is likely to be far bigger. The company’s board will decide whether the buyback will be done through a tender offer or the open market.
Bajaj Auto share price hit a 52-week high of ₹7,088.00 apiece on the BSE on January 05, after the announcement of share buyback. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Bajaj Auto shares have rallied over 39% in the past three months, while the stock is up more than 92% in one year.
The two and three-wheeler manufacturer recorded a 16% increase in its total wholesale dispatches in December. The company’s domestic sales rose 26% at 158,370 units and exports were up 3% to 124,631 year-on-year.
Also Read: Bajaj Auto, Chambal Fertilisers to consider buyback of shares this week The company had cash reserves of almost ₹17,500 crore, with net free cash flow addition of ₹3,600 crore in Q2FY24. On Friday, Bajaj Auto shares ended 0.72% higher at ₹6,968.15 apiece on the BSE.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
