Page 2 - Share Buybacks

Buybacks and their importance

Paying money back to shareholders does not mean that you have no growth. It may simply mean that you do not need all the capital you generate for your core business

Godrej Agrovet buys 7.37 lakh shares in Godrej Cattle Genetics for Rs 25 cr

Godrej Agrovet has bought 7.37 lakh shares in its subsidiary Godrej Cattle Genetics for Rs 25 crore through the rights issue. Godrej Cattle Genetics Pvt Ltd (GCGPL), the wholly-owned subsidiary of Godrej Agrovert, is engaged in agri-business and its principal business activities includes dairy farming and developing high-breed cattle and cattle embryo. In a regulatory filing on Thursday, the company informed that it has been allotted 7,37,463 fresh equity shares of GCGPL at a face value of Rs 10 per share. "The company has made additional investment aggregating up to Rs 25 crore in the equity share capital of GCGPL by way of subscription to the rights issue," the filing said. Godrej Agrovet had 100 per cent equity in GCGPL. Post acquisition of fresh equity shares, GCGPL will continue to be a wholly-owned subsidiary.

Investor desire for buybacks, dividends highest in 9 years: BofA Securities

40 per cent of respondents surveyed by BofA (62 per cent in December 2023) now expect bond yields across the globe to head lower in the next 12 months

Dwarikesh Sugar hits 5% upper limit as board to mull share buyback

The counter has seen heavy volumes of around 4.06 lakh shares as against the two-week average volume of around 1.46 lakh shares on the BSE.

Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results

The two-wheeler major reported its highest-ever quarter revenue at Rs 12,114 crore and EBITDA at Rs 2,430 crore for the quarter ended December 2023.

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

Earlier this month, Bajaj Auto reported a 16 per cent rise in total sales at 3,26,806 units in December 2023

Bajaj Auto rallies 6%, hits new high as board to mull buyback on January 8

With today's gain, the market price of Bajaj Auto has zoomed 96 per cent in the past one year, as against nearly 17 per cent surge in the S&P BSE Sensex

TCS hits 52-week high; extends rally post closure of share buyback

The stock was quoting higher for the eight straight trading session and rallied 6 per cent thus far in December.

Tata Sons likely to mop up Rs 12,284 crore from TCS share buyback

Rs 17K cr offer at Rs 4,150 per share to open on Dec 1

TCS Q2 FY24 misses estimates, hints toward slow growth prospects for FY24

Announces buyback worth Rs 17,000 cr; reports one of the largest headcount falls at 6,333 in a qtr

TCS to consider share buyback in board meeting on October 11

This comes at a time when IT companies are struggling to maintain healthy revenue growth

Weekend Bites: Confidence motion, corporation action, and a cage fight

In which we munch over the week's platter of news and views

Piramal Enterprises board approves buyback of 14 mn shares at Rs 1,750 cr

Piramal Enterprises on Friday said its board has approved a buyback of 1.4 crore shares at Rs 1,250 each, entailing an outgo of Rs 1,750 crore. The company's board has approved a buyback of up to 1.4 crore shares of face value of Rs 2 each, representing 5.87 per cent of the pre-buyback fully paid-up shares at a price of Rs 1,250 each, aggregating to Rs 1,750 crore through the tender offer route, the Mumbai-based company said in a regulatory filing. The promoter and promoter group shall not participate in the buyback, it added.

Piramal Enterprises surges 9% on plan to consider share buyback on July 28

Axis Capital estimates the company could go for a buyback of 8 per cent of the existing equity base. The action is positive for the stock and supportive of valuations, it said

L&T Q1 preview: Buyback, special dividend and other things to know

So far in this calendar year (CY23), shares of L&T surged 24 per cent, as against 9.1 per cent gain in the S&P BSE Sensex

Aarti Drugs surges 14% on firm Q1 result, approves buyback via tender route

The board has approved the buyback of 665,000 equity shares at Rs 900 per share via the tender offer route

Alibaba to stay on sidelines of Ant Group's $6 billion stock buyback

Alibaba said in an exchange filing it won't take part in Ant's plan to buy back as much as 7.6% of its stock, which the latter's board has approved

L&T gains 3%; hits new high as board to mull buyback, special dividend

The civil construction major announced its board will meet on July 25 to consider share buyback and special dividend.

Reliance Industries rallies on finance unit listing, retail buyback plans

The buyback of the small number of non-promoter shares is effectively a clean-up of the shareholding before any eventual IPO of the retail venture, JPMorgan Chase & Co. said in a note

Jack Ma-backed Ant to buy back shares at 70% lower valuation than at IPO

The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation's capital strength