Bajaj Auto slumps on deferring buyback plan

Bajaj Auto dropped 5.85% to Rs 3,653.75 after the company said it has deferred its proposal to buyback shares.

The two-wheeler maker on Tuesday said that its board has decided that further deliberations are required in order to take a decision on the proposal of buyback, and accordingly deferred the matter.

Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

On a consolidated basis, the company reported 1.62% fall in net profit to Rs 1,526.16 crore on 8.14% decline in net sales to Rs 7,728.13 crore in Q4 FY22 over Q4 FY21.

 

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