Bajaj Auto, stated on January 8 that its board has approved a ₹4,000 crore Leading company in the two- and three-wheeler marketshare buyback scheme, with shares priced at ₹10,000 each. In comparison to the previous closing price, this indicates a 43 percent premium.
MUMBAI: Bajaj Auto Ltd. authorized the tender offer buyback of shares on Monday for a total estimated value of Rs. 4,000 crore.According to an exchange filing, the two-wheeler major would buyback up to 40,00,000 shares at a price not to exceed Rs 10,000 per share.
Bajaj Auto Limited shares increased 1% to Rs 7,043 on January 8, as the company’s board of directors prepares to meet and evaluate a share repurchase plan.
In a regulatory filing sent to the Securities and Exchange Commission last week, “The meeting of the Board of Directors of the Company is scheduled on 08/01/2024, inter alia, to consider and approve a proposal to buyback of fully paid-up equity shares of the Company and other matters necessary and incidental thereto.”
Bajaj Auto Share Buyback: Board To Meet Today To Consider Buyback; Stock Trades Higher.
Shares of Bajaj Auto Limited traded 1 per cent higher to Rs 7,043 ahead of the company’s board of directors meeting to discuss a proposal for a share repurchase.
“The meeting of the Board of Directors of the Company is scheduled on 08/01/2024, inter alia, to consider and approve a proposal to buyback of fully paid-up equity shares of the Company and other matters necessary and incidental thereto,” Bajaj Auto stated in a regulatory filing last week.
It would be the second Bajaj Auto repurchase in the previous two years if granted. In July 2022, the auto manufacturer announced a share purchase at a price of ₹4,600 per equity share. The amount of the previous open market share repurchase by Bajaj Auto was ₹2,500 crore.
Rajiv Bajaj,The managing director of Pune-based Bajaj Auto, which manufactures two-wheelers, has hinted that this time’s share purchase will probably be much larger. Whether to use the open market or a tender offer for the buyback will be determined by the board of the company.
Bajaj auto share repurchase status.
Bajaj Auto Ltd, a major player in the two-wheeler industry has approved a share buyback program of Rs 4,000 crore. Through a tender offer, the business intends to repurchase up to 40,00,000 shares at a maximum cost of Rs 10,000 per share. This action is a reflection of Bajaj Auto’s dedication to growing shareholder value and trust in its sound financial standing.
By selling their shares at the agreed buyback price, current owners can participate in the tender offer route, which could increase liquidity. The effect of the buyback on the company’s financial indicators and stock performance will be extensively examined by the market. Proactive capital management by Bajaj Auto indicates optimism about its future possibilities by keeping pace with industry changes.
Bajaj auto share repurchase date.
The two-wheeler major will repurchase major would buyback up to 40,00,000 shares at a price not to exceed Rs 10,000 per share. MUMBAI: Bajaj Auto Ltd. authorized the tender offer buyback of shares on Monday for a total estimated value of Rs. 4,000 crore.
Dalal Street will be ecstatic to hear this news because the buyback price is 43% higher than the current market price. Shares of Bajaj Auto closed at Rs 6,983.85 on Monday, up 0.1% from the previous close on the National Stock Exchange.
The amount of the buyback is equivalent to 1.41% of the company’s total equity shares. Presently, foreign institutional investors own 14.72% of Bajaj Auto, while promoters and promoter group companies own 54.94%.
Bajaj auto board share price target
Bajaj Auto share price Today Live Updates : Bajaj Auto closed today at ₹6985.7, up 0.25% from yesterday’s ₹6968.15
Today’s share price for Bajaj Auto was ₹6968.7 when it began and ₹6918.55 when it ended on the previous day. The stock closed at ₹6922.2, having reached a high of ₹7088. Bajaj Auto has a market value of ₹197,942.65 crore. The stock has a 52-week high of ₹7088 and a 52-week low of ₹3522. 12,550 shares of Bajaj Auto were traded on the BSE.
Bajaj Auto share price.
Bajaj Auto is currently trading at a spot price of 6988. The bid price is slightly higher at 6996.8, while the offer price stands at 6998.95. The offer quantity is 250, indicating the number of shares available for sale, while the bid quantity is 125, reflecting the number of shares that buyers are willing to purchase. The open interest for Bajaj Auto is 2171000.
| Name | Latest Price | Change | % Change | 52W High | 52W Low | Mkt. Cap |
| Bajaj Auto | 6985.7 | 17.55 | 0.25 | 7088.0 | 3522.0 | 197665.52 |
| Eicher Motors | 3889.9 | 13.35 | 0.34 | 4201.7 | 2835.95 | 106381.6 |
| TVS Motor Co | 2038.25 | 59.0 | 2.98 | 2058.05 | 968.0 | 96834.63 |
| Hero Motocorp | 4012.95 | 23.55 | 0.59 | 4194.85 | 2246.75 | 80194.68 |
| Tube Investments Of India | 3772.0 | 21.9 | 0.58 | 4046.9 | 2375.05 | 72845.27 |
FAQs about Bajaj Auto share
1. What’s Bajaj Auto share price today and what are Bajaj Auto share returns ?
Bajaj Auto share price was Rs 6,983.85 as on 08 Jan, 2024, 03:59 PM IST. Bajaj Auto share price was up by 0.07% based on previous share price of Rs 6,922.15. Bajaj Auto share price trend:Last 1 Month: Bajaj Auto share price moved up by 14.95%
1. Last 3 Months: Bajaj Auto share price moved up by 39.27%
2. Last 12 Months: Bajaj Auto share price moved up 91.75%
3. Last 3 Years: Bajaj Auto Share price moved up by 97.89%
2. What is the market cap of Bajaj Auto?
Bajaj Auto share has a market capitalization of Rs 1,97,768 Cr. Within Auto sector, it’s market cap rank is 4.
3. Who’s the owner of Bajaj Auto?
Promoter holding have gone down from 54.98 (31 Mar 2023) to 54.94 (31 Dec 2023)
Domestic Institutional Investors holding have gone down from 10.79 (31 Mar 2023) to 8.66 (31 Dec 2023)
Foreign Institutional Investors holding has gone up from 12.35 (31 Mar 2023) to 14.64 (31 Dec 2023)
Other investor holding have gone down from 21.88 (31 Mar 2023) to 21.76 (31 Dec 2023)
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