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The automaker, which will release its earnings on Friday, is likely to report a 14 per cent on year growth in the revenue to Rs. 9,954 crores, the average of estimates by eight brokerages showed.Bajaj Auto’s sales volume in the previous quarter rose about 1% on year to 11,51,000 units.

SBI, L&T, ICICI Bank, Asian Paints and Bajaj Finance were also among the top losers, declining around 1-2 per cent. However, HCL Tech, Sun Pharma, Dr Reddy’s Labs and Reliance ended the session with gains. Sectorally, the Nifty PSU Bank index was the top loser, declining 1.58 per cent.

The 3W and bus segments showed remarkable recovery led by the opening of schools, institutions and corporate offices

“In the near term, there is a real risk that over the next two-three months or over next six months, there is a threat to the financial stability of the system globally and that is where policy makers will come in and capitulate. We may see some bit of a yield curve control coming through. ”

The Nifty IT index closed 0.68 per cent down at 27506.2.

The board approved buyback of shares worth Rs 9,300 crores at Rs 1,850 a share. The board has also announced an interim dividend of Rs 16.50 a share.

“The underlying fundamentals of the housing industry are very strong and we strongly believe that housing volume in the big urban sectors will at least triple in the course of this decade and grow at a similar pace in the next decade. So in the next 10 to 15 years, we will see very strong growth in housing.”

As of 30-Jun-2022, promoters held 0.0 per cent stake in the company, while FIIs held 37.27 per cent and domestic institutional investors had 32.58 per cent.

The proposed project is likely to incur a cost of Rs 2,250 crore to the company, with an estimated annual revenue projection of Rs 3,500 crore

The stock quoted a 52-week high price of Rs 2876.7 and a 52-week low of Rs 796.5.