The board of directors of leading two-wheeler manufacturer Bajaj Auto will meet next week to discuss stock buybacks.
"This is to inform you that the Company's Board of Directors will meet on Tuesday, June 14, 2022, among other things, to consider a proposal for the buyback of fully paid-up equity shares in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018," the company said in a regulatory filing on Thursday.
"Furthermore, as per the Company's Code of Conduct framed pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended, the trading window for dealing in the Company's securities is closed from 9 June 2022 to 16 June 2022 (both days inclusive) for the designated persons," it added.
The last time the company undertook a share buyback was in 2000, when shareholders approved a Rs 400 per share buyback of up to 1.8 crore equity shares.
Bajaj Auto reported lower-than-expected sales figures. In May, it reported total sales of 2.75 lakh units, which was below Nomura India Securities’ estimate of 3.12 lakh.
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