AJAJ AUTO will consider the repurchase of equity shares paid in full, said the company in a notification to the Exchange on Thursday. The company is intimidated for the exchange that the Board of Directors will consider proposals for buying shares in a meeting scheduled to be held on June 14.

This is to tell you that the company’s board of directors’ meeting is scheduled to be held on Tuesday, June 14, 2022, between us to consider proposals to repurchase equity shares that are fully paid from the company in accordance with that in accordance with the regulations of Securities and Exchange Board of India (Securities repurchase), 2018, “said the company in the submission of exchange.

Bajaj Auto added: “Furthermore, the trading window to deal with company securities is closed from June 9, 2022 to June 16, 2022 (both inclusive days), for people appointed in accordance with the company’s ethics code 2015, as amended. “

Stock repurchase, also known as a stock repurchase, is the company’s action to buy its own shares from existing shareholders usually at premium prices at applicable market prices. This can be an alternative tax efficient way to return money to shareholders. Stock repurchase reduces the number of shares in circulation, which can increase the value of shares and profits per share (EPS).

The last company took such a step in 2000, when the shareholders approved the repurchase of up to 18 million equity shares with the price of each RS 400.

Bajaj has paid dividends to shareholders since FY08, with an increase of each year: from RS 20 per share in FY08 to Hospital 140 at the end of FY22. Payment of aggregate dividend during the same period has increased from RS 289 Crore to RS 4,051 Crore at the end of FY22.

Bajaj Auto: Stock Price History

The company’s shares fell 8.2 percent in the past year. This has gained 19.3 percent of the dated year. Bajaj Auto shares were closed at 3,876.90 hospitals in BSE on Thursday, up 2.21 percent compared to the closure of Wednesday.

Bajaj Auto: Results Q4

Bajaj Auto reported sales data that was lower than estimates for May. Reportedly, total sales of 2.75 Lakh Unit for May. The sales volume in the previous month grew only 1 percent on the basis of years-to-year and fell more than 34 percent of their pre-pandemic rates in May 2019.

Sales performance that is muted is led by a weak month for exports for the company. Two -wheeled exports dropped 15 percent in the year to 1.53 Lakh Unit, while three -wheeled exports fell 67 percent to 10,163 in the year in May.

Bajaj Auto Ltd reported a 10 percent net profit growth for the March 2022 quarter at 1,469 Crore Rs compared to RS 1,332 Crore in the appropriate quarter of the previous fiscal. The higher profit is mainly caused by extraordinary items from RS 315 Crore obtained as incentive receivables from the Maharashtra government under the incentive scheme.

Revenue from the operation, however, fell 7 percent to RS 7,975 Crore for the period being reviewed.