Bajaj Auto Limited’s shares edged 1% higher to Rs 7,043 on January 8 as the company’s board of directors convened to discuss a potential share buyback proposal.
Trading at Rs 7,005 at 9:25 am, the stock exhibited a 0.4% increase from the previous close on the NSE. Following the initial announcement of the buyback proposal, the stock had witnessed a robust surge of nearly 5% last Wednesday and continued its positive momentum, gaining over 1% on Friday, closing the week at Rs 6,978, marking a 5% increase since the buyback revelation.
As disclosed in a recent exchange filing, Bajaj Auto articulated, “The meeting of the Board of Directors of the company is scheduled on January 8 to consider and approve a proposal to buyback of fully paid-up equity shares of the company and other matters necessary and incidental thereto.” Investors are keenly observing the outcome of the board meeting, anticipating insights into the company’s strategic moves and the potential impact on its market dynamics.
