After Wipro, Bajaj Auto, these 3 companies may go for share buyback - Should you buy any?

It is a buyback season at Dalal Street. Top companies including Bajaj Auto Ltd and Wipro Ltd have already announced their buyback followed by other names like Kajaria Ceramics, Rolex Rings, Cyient and others. Besides them, select companies are likely to announce their buyback this week, with their boards meeting to consider repurchase proposals from shareholders.

The company boards of Zydus Lifesciences Ltd and Dhanuka Agritech Ltd are set to meet on Tuesday, May 19. Similarly, the company board of Team Lease Services Ltd shall be meeting on Wednesday, May 20. They will also announce their quarterly results for the three months ended on March 31, 2026.

However, the company board of Balmer Lawrie & Company Ltd, whose board met on May 17, denied the proposal for share buyback. Besides that, the company board also rejected the proposal of stock split and bonus issue for the shareholders. However, the company announced a dividend of Rs 4.25 per share for the shareholders for FY26.

Balmer Lawrie, a Miniratna-I diversified PSE under the Ministry of Petroleum and Natural Gas, with presence in manufacturing and services sectors, reported a 5.53 per cent YoY jump in the net profit at Rs 245.68 crore, while its revenue from operations rose 8.03 per cent YoY to Rs 2,784.60 crore for the March 2026 quarter.

For the March 2026 quarter PL Capital expects Zydus Lifesciences' sales to come in at Rs 6,888 crore, up 5.5 per cent YoY and 0.3 per cent QoQ. Ebitda is seen at Rs 1,667.4 crore, down 23 per cent YoY but up 0.9 per cent QoQ as margins may contract 896 basis points to 24.2 per cent for the quarter. It expects net profit to come in at Rs 873.3 crore, down 25.4 per cent YoY and 16.2 per cent QoQ.

Higher Ebitda growth aided by Medtech and Comfort click consolidation. US sales remain weak. The brokerage pencils a weak Q4FY26 for the company with an 'accumulate' rating with a target price of Rs 1,020.

Anand Rathi has pegged Dhanuka Agritech's revenue at Rs 466.9 crore, up 5.6 per cent YoY and 22.2 per cent QoQ. Ebitda margin is seen at 24.8 per cent, while the net profit is seen coming in at Rs 77.5 crore, up 2.6 per cent YoY and 93.7 per cent QoQ. It has a 'buy' rating on the stock with a target price of Rs 1,350.

HDFC Securities has earmarked Teamlease's revenue for the quarter is estimated at Rs 2,955 crore, down 1.9 per cent QoQ, with consolidated margin at 1.6 per cent (up 16 bps QoQ), driven by HR services, while core and specialized staffing margins remain steady.  Adjusted net profit may fall 11 per cent sequentially to Rs 55.1 crore.

"Teamlease is likely to see a drop in net associates while margins will remain stable. General staffing associates will continue to decline while DA will witness growth. Specialized staffing growth will be supported by GCC demand," it added but downgraded the stock to 'add' with a target price of Rs 1,500.