Bajaj Auto completes share buyback, stock slips 2.47 percent

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note amid weak global cues.
• Investors worried over rising interest rates and an escalation in the Ukraine war. Domestic market participants awaited India’s retail inflation data for September, due on Wednesday. All the sectoral indices ended in the red with realty, metal and IT shares declining the most.

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News you could use

?L&T subsidiary secured orders from Water Resource Department from Govt. of Odisha
The water & effluent treatment business of L&T Construction has secured repeat orders from the Water Resources Department, Government of Odisha. As per L&Ts classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore.

?Bajaj Auto completes share buyback, stock slips 2.47 percent
The two-wheeler maker announced that its board approved the completion and closure of the share buyback on Monday, 10 October 2022. Bajaj Auto commenced the share buyback on 4 July 2022. The two-wheeler maker said it bought back 64,09,662 equity shares, utilizing an aggregate amount of Rs 2499.96 crore, representing 99.99% of the maximum buyback size. The total amount earmarked for the purpose was up to Rs 2,500 crore.

?Automotive Axles Ltd share price up as Cummins make open offer to buy stake
Cummins Inc. made an open offer to buy up to 26% stake in the company. The open offer is for the acquisition of 39.29 lakh fully paid-up equity shares (26% equity) at Rs 1504.43 each. Cummins Inc owns 35.52% stake in Automotive Axles, which makes open offer mandatory.
 

News from the IPO world?

• Tracxn Technologies IPO subscribed 54% on Day 2
• Rs. 12,000 crore IPOs are coming to Dalal Street
• Kaynes Technology gets SEBI’s go ahead to float IPO

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