{"id":116958,"date":"2024-01-09T11:26:32","date_gmt":"2024-01-09T05:56:32","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=116958"},"modified":"2024-01-09T12:11:05","modified_gmt":"2024-01-09T06:41:05","slug":"auto-stock-hits-52-week-high-after-it-announces-share-buyback-at-34-premium","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/auto-stock-hits-52-week-high-after-it-announces-share-buyback-at-34-premium\/","title":{"rendered":"Auto stock hits 52-week high after it announces share buyback at 34% premium"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3264292622\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The leading manufacturer of bike Qutes &amp; electric 3-wheeler company stock rose 6 percent to hit its new 52-week high of Rs 7,420 per share from its previous close of Rs 6,985 after the company announced the buyback of the shares.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2987879136\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to the filing of Bajaj Auto Ltd, the company board of Directors has approved a proposal to buy back up to 40 Lakhs shares for Rs 10,000 per share for a total consideration of Rs 4,000 crores.&nbsp;<\/p><p>The buyback price of Rs 10,000 per share is 34 percent higher than the current market price of Rs 7,420 per share.&nbsp;<\/p><p>Looking at the company financials, their net revenue increased by 6 percent year over year, from Rs 10,203 crore in Q2FY23 to Rs 10,838 crore in Q2FY24. Their revenue rose by 5 percent sequentially from Rs 10,312 crore in Q1FY24 to the current levels.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1923389379\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In addition, the company&#8217;s net profit rose by 17 percent year over year, from Rs 1,719 crores in Q2FY23 to Rs 2,020 crores in Q2FY24. Their profit increased by 22 percent on a quarterly basis from Rs 1,644 crore in Q1FY24 to the current levels.&nbsp;<\/p><p>The company is a large cap with a market capitalization of Rs 2,02,000 crores. The share price of the company has risen by 44 percent in the last six months and 95 percent in the last year.\u00a0<\/p><p>Bajaj Auto Ltd company has a low price-to-earnings ratio of 28 compared to its peers, with zero debt, a return on equity of 20 percent, a return on capital employed of 26 percent, and a net profit margin of 16 percent.&nbsp;<\/p><p>The promoter owns 55 percent of the company, the general public owns 22 percent, foreign institutional investors own 14 percent, and domestic institutional investors own 9 percent.&nbsp;<\/p><p>Bajaj Auto Limited is an Indian manufacturer of two-wheelers, three-wheelers, and quadricycles. The Company is in the business of developing, manufacturing and selling automobiles such as motorcycles, commercial vehicles, electric two-wheelers, and parts.&nbsp;<\/p><p><strong>Written by Sriram KV<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-654060131\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2929103313\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The leading manufacturer of bike Qutes &amp; electric 3-wheeler company stock rose 6 percent to hit its new 52-week high of Rs 7,420 per share from its previous close of Rs 6,985 after the company announced the buyback of the shares.&nbsp; According to the filing of Bajaj Auto Ltd, the company board of Directors has [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-116958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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