India’s main two-and-three-wheeler firm Bajaj Auto on Tuesday mentioned that it has deferred the proposal of share buyback, which was anticipated to be introduced at this time.
The announcement got here after the Board of Administrators met earlier at this time, whereby it was determined that additional deliberations are required with a purpose to take a choice on the proposal of buyback, and accordingly deferred the matter, Baja Auto knowledgeable in a regulatory submitting.
On Tuesday, Bajaj Auto shares gave up preliminary good points in uneven commerce. The Bajaj Auto inventory fell by as a lot as Rs 117.6 or three per cent to Rs 3,763 apiece on BSE, having begun the day marginally within the inexperienced at Rs 3,890. It’s at present buying and selling 6.26 per cent decrease at Rs 3,637.55 apiece on BSE throughout late-trade hours.
What’s share buyback?
A buyback, often known as a share repurchase, is when an organization buys its personal excellent shares to scale back the variety of shares obtainable on the open market.
Corporations purchase again shares for various causes, comparable to to extend the worth of remaining shares obtainable by lowering the provision or to stop different shareholders from taking a controlling stake.
