Bajaj Consumer Care shares up 5% on buyback proposal on December 9

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Bajaj Consumer Care shares up 5% on buyback proposal on December 9

The shares of Bajaj Consumer Care went up over 5% in a weak market after the company said it would consider a proposal for a buyback of fully paid-up equity shares on December 9. The stock of Bajaj Consumer Care reached a new intraday high of Rs 184.65, up 5.27% on the BSE. The shares of Bajaj Consumer Care were higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. It opened 3.19% higher at Rs 181 on the BSE.

The stock went up 0.08% in a year and fell 8.01% in 2022. In a week the stock has gone up 10.84%.

The firm's turnover was 2.06 crore in the morning and there were 1.13 lakh shares of the firm in the morning. The firm's market cap rose to Rs 2,688 crore on the BSE.

The stock hit a 52 week high of Rs 207.45 on December 15, 2021 and a 52 week low of Rs 129.25 on June 17, 2022 on the BSE.

The outcome of the board meeting will be released to the stock exchanges after the conclusion of the board meeting on December 9, 2022, in accordance with the applicable provisions of the SEBI Listing Regulations, the firm said in a communication to the bourses.

The company reported a 31.93 per cent fall in its consolidated net profit at Rs 31.65 crore for the second quarter ended September against a loss of Rs 46.50 crore in the July-September quarter a year ago. Bajaj Consumer Care, part of the Bajaj Group of Companies, is a company in the beauty care category.

The total revenue from operations jumped 8 per cent to Rs 232.45 crore in Q 2 against Rs 216.17 crore in the same period of the previous fiscal.

Bajaj Consumer Care Limited is a fast-moving consumer goods FMCG company. The company is involved in the manufacturing of hair oils and personal care products. The company operates through the segment of cosmetics, toiletries and other personal care products.

Sensex fell 416 points or 0.66 per cent to trade at 62,418 and Nifty lost 105 points or 0.56 per cent to 18,596. Hindalco, Tata Steel, HCL Tech, ONGC, Hero MotoCorp were among the top losers in early trade.