Bajaj Auto shares climbed as much as 2.52% to ₹2,649 on the National Stock Exchange on Monday, buoyed by the approaching record date for a major share repurchase program.
The auto manufacturer is set to execute a buyback worth up to ₹5,633 crore, a move that has sharpened investor focus on the company’s capital allocation strategy.
The repurchase plan, approved by the board in May, covers up to 46.94 lakh equity shares with a face value of ₹10 each.
This volume represents 1.68% of the company’s total paid-up equity capital.
The initiative underscores management’s view that the current valuation offers an attractive entry point for returning capital to shareholders, particularly in a market environment where large-cap auto stocks are under scrutiny for growth visibility.
Share buybacks are often viewed as a signal of financial strength and a commitment to enhancing earnings per share.