Outlook on `Bajaj Auto announces Open Market Buyback` By Ashwin Patil, LKP Securities
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Below is Outlook on Bajaj Auto announces Open Market Buyback By Ashwin Patil, Senior Research Analyst at LKP Securities
"The size of the buyback is Rs2500 cr and at a price of Rs4600. However it's an open market buyback and not through a tender offer. This means that the stock may not reach those levels by the time the buyback offer closes. Therefore for retail investors, there may not be any significant upside because of this buyback. However, we believe that the stock definitely holds a good value through its intrinsic performance and can reach levels of Rs 4400 which is as it is our target price. Maintain Buy"
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