Mumbai, April 23 -- The company said the board will meet to consider and approve its audited financial results for the fourth quarter and full year ended 31 March 2026.

However, the announcement did not include any proposal for dividend or share buyback, which weighed on investor sentiment.

The company has not declared a dividend for the past three years. Its last dividend was an interim payout of Rs 11 per share in May 2022. It also has not announced any buyback since August 2024, when it repurchased shares worth Rs 2,640 crore at Rs 465 per share through a tender offer.

Investor caution has also been influenced by a recent downgrade by a foreign brokerage, which assigned an 'Underperform' rating with a target price of Rs 375. The bro...