buyback bill: Rs 48,000 crore: India Inc’s buyback bill in 2023

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Still, timing of a buyback, regardless of the size, is key, as the response hinges on the timing of the exercise.

Synopsis

Data sourced from Prime Database reveals that 48 companies spent ₹48,079 crore on buying back their stocks in 2023 – a year when the benchmark Nifty 50 appreciated over 20%. This is second only to the record of over ₹55,000 crore spent in 2017 when the benchmark index posted a return of 29%.

ET Intelligence Group: Last week, Bajaj Auto announced a ₹4,000 crore buyback – its second in two years. This is nearly 12% of the amount India Inc spent on buybacks in 2023.Data sourced from Prime Database reveals that 48 companies spent ₹48,079 crore on buying back their stocks in 2023 – a year when the benchmark Nifty 50 appreciated over 20%. This is second only to the record of over ₹55,000 crore spent in 2017 when the benchmark index posted

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ET Bureau

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