Bajaj Auto shares fell as much as 2.88% on the National Stock Exchange on Wednesday, opening at ₹9,838 against a previous close of ₹10,025.
The decline occurred on the record date for the company’s major share buyback program, a day that had previously buoyed investor sentiment.
The sell-off was compounded by emerging reports that the manufacturer had been targeted by a ransomware attack, introducing a new layer of operational risk to the corporate action narrative.
The price action marks a sharp reversal from Monday’s session, when shares climbed 2.52% to ₹2,649 on expectations surrounding the repurchase.
The buyback, valued at up to ₹5,632.80 crore, had secured necessary shareholder and board approvals earlier in the week.
Investors appear to be weighing the dilution-preventing benefits of the buyback against the immediate uncertainty posed by the cybersecurity incident.