Bajaj Auto to consider share buyback in board meeting on January 8

Bajaj Auto on Wednesday announced that its board of directors will consider a share buyback on January 8. It told the exchanges that the decision would be made at the meeting of its board.

"We wish to inform you that, the board of directors of the company at its meeting scheduled to be held on Monday, January 8, 2024, inter alia will consider a proposal to buyback of fully paid-up equity shares of the company, it said.

Earlier this month, Bajaj Auto reported a 16 per cent rise in total sales at 326,806 units in December 2023. The company had sold a total of 281,514 units in December 2022.

Total two-wheeler sales were at 2,83,001 units last month as against 2,47,052 units in the year-ago period, a growth of 15 per cent. The domestic two-wheeler sales were at 1,58,370 units as compared to 1,25,553 units in the corresponding month a year ago, up 26 per cent, the company said.

Exports of two-wheelers were higher at 124,631 units last month, compared to 121,499 units in December 2022.

On Wednesday, as of 3:05 pm, Bajaj Auto's shares were 5.2 per cent in the green at Rs 7,009.15 apiece on BSE.