Bajaj Consumer in Focus Today: Board Meeting For Share Buyback Proposal

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Bajaj Consumer in Focus Today: Board Meeting For Share Buyback Proposal

By Malvika Gurung

Investing.com -- The FMCG stock Bajaj Consumer Care (NS: BACO ) will be in focus on Dec 9, 2022, as its board will meet on the day to consider a proposal for share buyback.

In a filing to the domestic exchanges on Dec 5, the leading FMCG company announced that its Board of Directors will conduct a meeting on Friday, Dec 9, to consider a proposal for buyback of the company’s fully paid-up equity shares.

The outcome of the board meeting will be intimated to the stock exchanges on the conclusion, which will be on the same day, i.e, Friday. 

The company further informed that its trading window will remain closed for all the designated persons of the company to prohibit them from dealing in securities until Dec 12, 2022, as per the Code of Conduct.

Shares of Bajaj Consumer Care were trading on a flat note on Friday. The main objective of conducting a share buyback is to keep a check on the stock’s fall in value. This is done by cutting the supply of the company’s shares in the market, which will eventually raise the share price through an improved price-to-earnings multiple. 

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