The buyback plan follows a whopping 88 per cent surge in Bajaj Auto's stock in 2023, marking its best year since 2009 and outpacing a 47.6 per cent rise in the Nifty Auto index
Bajaj Auto said on Wednesday it will consider a share buyback proposal on January 8, sending its shares to a record high with a nearly 6 per cent increase. The buyback plan follows a whopping 88 per cent surge in the company’s stock in 2023, marking its best year since 2009 and outpacing a 47.6 per cent rise in the Nifty Auto index.
Shares of Bajaj Auto were last trading up 4.3 per cent on Wednesday. The maker of two- and three-wheelers is also set to report its third-quarter results on Jan. 24.
The ‘Pulsar’ motorcycle maker last bought back shares worth Rs 2,500 crore between July and October 2022.
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