The company's board earlier met on 14 June 2022, to consider the share buyback. However, the proposal was deferred as board decided that further deliberations were required for the proposed buyback.

Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

On a consolidated basis, the company reported 1.62% fall in net profit to Rs 1,526.16 crore on 8.14% decline in net sales to Rs 7,728.13 crore in Q4 FY22 over Q4 FY21.

Shares of Bajaj Auto fell 0.39% to Rs 3629.80 on Wednesday.