Buyback of shares: Shares of Bajaj Auto and Chambal Fertilizers and Chemicals will be in focus when Indian stock market opens next week. The board of directors of these companies will consider and approve the buyback of shares in their meeting scheduled for next week.
Both Bajaj Auto and Chambal Fertilizers have fixed their board meeting for January 8, 2023 i.e. Monday next week. These listed companies have already informed Indian stock markets about the buyback offer.
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Bajaj Automatic repurchase
In one of its latest exchange filings, Bajaj Auto informed Indian stock exchanges about the buyback proposal saying, “The meeting of the Board of Directors of the Company is scheduled on 08/01/2024, inter alia, to consider and approve a buyback proposal. fully paid equity shares of the Company and other matters necessary and incidental thereto, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Commission of India (Purchase back of Securities) Regulations, 2018, as amended, and others applicable.”
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If the board of directors of Bajaj Auto Ltd approves the share buyback, then it would be the second Bajaj Auto buyback in the last two years. The auto major declared a share buyback in July 2022 at ₹4,600 per equity share. The previous Bajaj Auto buyback size was ₹2,500 crores.
Buyback of fertilizers from Chambal
In its exchange, Chambal Fertilizers and Chemicals Ltd informed Indian exchanges that the board of directors will consider and approve the share buyback proposal in its meeting scheduled on 8 January 2024, that is Monday next week.
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Chambal Fertilizers informed Indian stock exchanges about the buyback proposal citing, “The meeting of the Board of Directors of the Company is scheduled on 08/01/2024, inter alia, to consider and approve a proposal for buyback of equity shares of the Company in accordance with the applicable provisions of the Companies Act, 2013 (including the rules framed thereunder) and the Securities and Exchange of India (Purchase of Securities) Regulations, 2018.”
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Published: 06 Jan 2024, 12:30 IST