Key Points
MUMBAI - Bajaj Auto Ltd on Monday approved buyback of shares worth Rs 4,000 crore through the tender offer route...
The two-wheeler major will repurchase up to 40,00,000 shares for a price not exceeding Rs 10,000 a share, the company said in an exchange filing...
Dalal Street is set to rejoice this news, as the buyback price is at a whopping 43% premium to the current market price..
Last week, when Bajaj Auto had announced that its board would meet to consider share buyback, the stock scaled a lifetime high of Rs 7,084..
The last time Bajaj Auto had done the share buyback through the open market, however, this time it will be through the tender offer route...
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