Bajaj Consumer Care added 3.06% to Rs 270.85 after the company's board has approved share buyback of up to Rs 166.49 crore at a price of Rs 290 per equity share.
The buyback price fixed at Rs 290 per equity share, representing a 10.35% premium to Thursday closing price of Rs 262.80 on the BSE.The company will buyback up to 57.41 lakh fully paid-up equity shares, representing 4.02% of the total paid-up equity shares of the company.
The buyback offer size represents 19.25% and 20% of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest audited standalone and consolidated financial statements of the company as on 31 March 2024, respectively.
Bajaj Consumer Care is one of the leading FMCG brands in India that brings high-quality hair care and skin care products to consumers across the world.
The companys consolidated net profit fell 12.06% to Rs 35.58 crore in Q4 FY24 as compared with Rs 40.46 crore posted in Q4 FY23. Net sales decreased by 4.86% year on year (YoY) to Rs 234.23 crore in the quarter ended 31 March 2024.
The counter hit a 52-week high at Rs 274.10 in todays intraday session.
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