Bajaj Auto share price: Bajaj Auto Shares Buyback Offer … Announces Next Week !! Trade down 1% today !! – bajaj auto to consider share buyback next week

Motorcycle and three-wheeler maker Bajaj Auto has announced that its team will meet next week on June 14, 2022 to consider a plan to repurchase fully paid equity shares. Shares of Bajaj Auto rose one per cent to Rs 3,920 on the BSE in early trade today.

The Board of Directors of the Company is scheduled to meet on Tuesday, June 14, 2022, to consider plans to purchase the company’s full paid equity shares among other countries, the Securities and Exchange Board of India said in an exchange filing with SEBI.

A share repurchase is a move to repurchase its own outstanding shares from existing shareholders at a premium prevailing market price. This is an alternative way to give money back to shareholders. Stock repurchases can reduce the number of shares in circulation and increase share value and return per share (EPS).

Bajaj Auto Ltd recorded 10% growth in net profit for the March 2022 quarter. It was Rs 1,332 crore in the corresponding quarter last fiscal, up from Rs 1,332 crore in the year-ago period. Under the incentive scheme, Rs 315 crore was raised as incentives from the Government of Maharashtra, resulting in higher profits.

Operating income, however, declined by 7% to Rs 7,975 crore during the period under review. The company’s EPIDTA (interest, tax, depreciation and pre-currency income) fell 10% to Rs 1,396 crore. At the same time the margin has come down to 17.5%. Bajaj Auto sold 2,71,862 units of its total vehicle in May.