$BAJAJ-AUTO

Bajaj Auto emerged as the biggest loser on the Nifty index on June 24, a day after the company disclosed that a ransomware attack had affected the IT systems of both Bajaj Auto and its subsidiary, Bajaj Auto Technology. In its filing, the automaker said it acted swiftly upon detecting the incident, with its technical team, management, and cybersecurity experts implementing necessary precautionary measures and protocols to contain the threat. According to the company, these efforts have been effective so far, based on the information currently available. "Immediately upon becoming aware of the incident, the technical team of the Company along with cyber security experts and the management responded promptly and initiated necessary precautionary actions and protocols to mitigate the impact of this incident," the company said, adding that the response has been successful at this stage. Meanwhile, investors holding Bajaj Auto shares at the close of trading on June 23 will be eligible to participate in the company's proposed share buyback. Eligible shareholders will be determined based on the company's records as of the record date. Bajaj Auto had announced the buyback plan alongside its March quarter earnings. Under the proposal, the company intends to repurchase up to 46.94 lakh equity shares at a price of Rs 12,000 per share through the tender offer route.