Multibagger penny stock hit 5% upper circuit, as Board approves share buyback

On the BSE, the shares of Abirami Financial Services (lndia) Limited closed today at an upper circuit limit of  ₹22.78 apiece level up by 5% from the previous close of  ₹21.70. (istockphoto)

With a market valuation of ₹13.67 Cr, Abirami Financial Services (lndia) Limited is a small cap company that operates in the financial services industry. The primary businesses of the company are hire purchase, leasing, lending money against securities, and real estate, both movable and immovable. The Board of Directors of the company today has approved … Read more

Bajaj Auto share: Rakesh Sharma on Bajaj Auto share buyback, dividend plans & EV push

“We have inaugurated a new plant and along with it across the road is a world class EV dedicated R&D centre in Pune, where scooter production started decades ago. For Bajaj, it is a homecoming and we intend to create foremost a world class EV centre and as supply chains fall in place, we expect … Read more

Budget may shift buyback tax from firms to shareholders

Budget may shift buyback tax from firms to shareholders

The finance ministry is considering a proposal to shift the tax liability on buyback of shares from companies to individual shareholders who participate in the share repurchase process, sources said. The idea is to bring taxation of share buybacks similar to the way dividend income is taxed at the hands of the shareholders. Also, the … Read more

Bajaj Consumer Announces Buyback at Rs 240/Share; Key Details Investors Must Know

Last Updated: December 10, 2022, 13:05 IST Bajaj Consumer Share Buyback: Smallcap FMCG company Bajaj Consumer Care announced that its board approved a share buyback upto Rs 80.89 crore at a price not exceeding Rs 240 per share through open market route. What is a Share Buyback? A share buyback, also known as share repurchase, … Read more

CarMax results hit by ‘used-vehicle recession’; buyback paused

Dec 22 (Reuters) – Used-car retailer CarMax Inc (KMX.N) said on Thursday it was pausing some hiring, halting share buybacks and cutting expenses after reporting an 86% drop in third-quarter profit as the industry struggles to offload inventory amid waning demand. The company’s shares fell as much as 12% to $52.10 and were at more … Read more

Sebi board may tweak buyback regulations

Sebi board may tweak buyback regulations

The Securities and Exchange Board of India (Sebi) is likely to discuss key changes in buyback norms, governance of market infrastructure institutions (MIIs) and disclosures of material events for companies at its board meeting on Tuesday. The market regulator had released a consultation paper last month pertaining to share buybacks, seeking changes concerning the limit, … Read more

Explainer: New buyback rules for the better

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Several companies opt to do a buyback of shares via the open market—stock exchange—route. This route is prone to misuse, with the tender route being a more efficient way of returning surplus funds to the shareholders. Sebi is revisiting the rules on buybacks. Shobhana Subramanian looks at what the experts have recommended. The routes to … Read more

SoftBank-backed Paytm launches $103mn share buyback plan

Lossmaking Indian payments company Paytm has voted to buy back up to Rs8.5bn worth of shares, after the group’s stock price plummeted two-thirds since its initial public offering 13 months ago. The board approved a plan on Tuesday evening to repurchase a maximum of 10.5mn shares at Rs810 ($9.81) rupees per share — 50 per … Read more

Paytm Share Buyback: Why, And How The Shareholders Can Benefit?

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Paytm- A company may decide to repurchase shares if it believes that its stock is undervalued or has fallen too far. Loss-making Paytm’s parent company, One 97 Communications, announced on Thursday that its board will meet on December 13, 2022, to make a decision regarding a proposal for a share buyback. The company acknowledged that … Read more