Kajaria Ceramics announces potential buyback, board to meet April 30
Kajaria Ceramics just announced a potential share buyback, with final details set to be discussed at its board meeting on April 30.
The company will also review its latest financial results then.
Until 48 hours after the board meeting outcome is disclosed, trading window for Kajaria's shares is paused per regulations.
Indian firms roll out buybacks
Kajaria's stock jumped over 1% after the news, part of a bigger trend in India right now.
Other companies like Rolex Rings, which is considering a buyback proposal, and Aurobindo Pharma have also rolled out buyback plans recently, and even IT giant Wipro is joining in with a massive ₹15,000 crore offer.
For investors, these buybacks are basically companies' way of returning surplus capital to shareholders and showing confidence in cash flows.