Bajaj Auto board to mull share buyback on January 8; stock hits lifetime high

MUMBAI - Bajaj Auto Ltd on Wednesday said that its board will have a meeting on January 8
to consider and approve the buyback of shares.

Following the news, shares of the two-wheeler maker extended the day’s gains and rose nearly 6% to scale a lifetime high of Rs 7,059.85.


This is the second time Bajaj Auto will be doing a share buyback if the board approves.

In July 2022, Bajaj Auto launched a share buyback worth Rs 2,500 crore. The buyback was done at Rs 4,600 a share.
Since the first share buyback, the share value of the automaker has more than doubled in value.

The last time Bajaj Auto did the share buyback through the open market, however, this time it could be through the tender offer route.

As of September end, promoters held 55% stake in Bajaj Auto, while the rest is held by public.