Bajaj Auto defers share buyback proposal; stock dips 5%


Shares of on Tuesday tanked 5 per cent after the company deferred its proposed share buyback programme.

“We wish to inform that the board of directors of the company at its meeting held on June 14, 2022, has decided that further deliberations are required in order to take a decision on the proposal of buyback, and accordingly deferred the matter,” the company said in a stock exchange notification.


The board meeting lasted for three-and-a-half hours, the company said. Shares of the two-wheeler major ended at Rs 3,684, down 5.1 per cent over previous day’s close.

On June 9, the company had announced its buyback proposal.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link

Comments are closed.