
share punarkhareed

share punarkhareed, jise share punarkhareed yaa stock punarkhareed key roop mein bhee jaanaa jaataa haye, ack company dwara apane sheyaron kaa punarkhareed haye. yeh sharedharakon koo dhana vaapas karane key ack vaikalpik aur adhik lacheele tareeke (labhansh key saapeksh) kaa pratinidhitva kartaa haye. jaba badhe hue corporate laabh key saath samanvaya mein upayog kiya jaataa haye, tou punarkhareed share kii kimaton koo badhaa sakati haye.
adhikansh deshon mein, ack nigam company kii bakaaya equity key ack ansh key badale mein maujooda sharedharakon koo nakad vitarit karke apane swayam key stock koo phir seey khareed sakata haye; yaani, bakaaya sheyaron kii sankhya mein kamee key liye nakadi kaa adaan-pradaan kiya jaataa haye. company yaa tou punarkhareed kiye gaye sheyaron koo sevaanivritt karati haye yaa unhein treasury stock key roop mein rakhti haye, joe punah jaari karane key liye upalabdh haye.
yuu key tahat.aiss. corporate kaanoon, stock punarkhareed key chhah praathamik tareeke hainh khula bajar, niji baatchit, punarkhareed "putt" adhikaar, swa-nivida punarkhareed key dou prakaar (ack nishchit moolya nivida prastaav aur ack dutch nilami), aur punarkhareed mein teji laana. duniya bhar mein 95 pratishat seey adhik punarkhareed karyakram ack khule bajar paddhati key madhyam seey hotey hain, jisake madhyam seey company punarkhareed karyakram kii ghoshana karati haye aur phir khule bajar (stock exchange) mein sheyaron kii punarkhareed karati haye. 20veen sadee key anta aur 21veen sadee kii shuruat mein, sanyukt raajya america mein share punarkhareed kii matra mein tej vriddhi huih 1980 mein 5 arab americi dollar badhkar 2005 mein 349 arab americi dollar hoe gaye. badee share punarkhareed sanyukt raajya america kii tulanaa mein europe mein baad mein shuru hui, lekin aajkal duniya bhar mein ack aam pratha haye.
yuu.aiss. pratibhooti aur vinimay aayog (seik) niyam 10bee-18 sanyukt raajya america mein stock punarkhareed key liye aavashyaktaaen nirdhaarit kartaa haye.
uddeshya.
companiyon key aam taur parr laabh key liye dou upayog hotey hain. sabse pahale, laabh kaa kuchh hissa labhansh yaa stock punarkhareed key roop mein sharedharakon koo vitarit kiya jaa sakata haye. yadi barkarar rakhee gaee aaya key punarnivesh key liye laabhdaayak udyamon kii pehchaan kii jaa sakati haye, tou shesh laabh koo company key bheetar rakhaa jaataa haye aur company key bhavishya mein nivesh key liye upayog kiya jaataa haye. halanki, kabhi-kabhi companiyon koo pataa chala sakata haye kii unaki kuchh yaa sabhi barkarar rakhee gaee aaya koo sweekarya laabh dene key liye phir seey nivesh naheen kiya jaa sakata haye.
share punarkhareed labhansh kaa ack vikalp haye. jaba koee company apane swayam key share phir seey khareedati haye, tou yeh janata dwara rakhe gaye sheyaron kii sankhya koo cumm curr detee haye. float yaa saarvajanik roop seey karobar kiye jaane vaale sheyaron mein kamee kaa matlab haye kii bhale hii laabh samaan rahey, prati share aaya mein vriddhi hoti haye. jaba kissy company key share kii keemat cumm hoti haye tou sheyaron kii punarkhareed karane seey gair-bikri sharedharakon (aksar andaruni) koo laabh hotaa haye aur bechane vaale sharedharakon seey moolya nikala jaataa haye. iss baat key thhos pramaan hain kii companiyan laabhprad roop seey sheyaron koo phir seey khareedane mein saksham hoti hain jaba company vyaapak roop seey khudra niveshakon key paas hoti haye joe aprachalit hotey hain (jaise.jee.chhote niveshak) aur jaba una sheyaron kaa cumm moolya nirdhaaran kiya jaataa haye tou company koo apane share bechane kii adhik sambhavana hoti haye. isake vipareet, jaba company mukhya roop seey andaruni sootron aur sansthaagat niveshakon key paas hoti haye, joe adhik parishkrit hotey hain, tou companiyon key liye laabhprad roop seey sheyaron koo phir seey kharidana mushkil hotaa haye. jaba stock kaa parisamapan roop seey vyaapaar kiya jaataa haye aur companiyon kii gatividhi seey share kii keemat mein badalaav kii sambhavana cumm hoti haye tou companiyan adhik aasaani seey laabh parr share phir seey khareed sakati hain.
vittiya bajar punarkhareed ghoshanaon key arth kaa sateek anuman lagaane mein asamarth hain, kyonki companiyan aksar punarkhareed kii ghoshana karati hain aur phir unhein puuraa karane mein whiffle rahati hain. saarvajanik niveshakon key kathit yaa sambhaavit shoshan koo cumm karane key prayaas key parinamswarup, companiyon koo purvavyaapi roop seey apani punarkhareed gatividhi kaa khulasa karane kii aavashyakta key baad punarkhareed puuraa karane kii darr mein vriddhi hui. aam taur parr, niveshakon kii labhansh mein katauti key liye share punarkhareed karyakram koo sthagit karane yaa chhodane kii tulanaa mein adhik pratikool pratikriya hoti haye. isaliye, adhik laabhpradata kii avadhi key dauran badey labhansh kaa bhugtan karane key bajaay, cumm samay key dauran unhein cumm karane key liye, companiyan "labhansh cover" key sweekarya star koo banaae rakhane key uddeshya seey apani aaya key ack roodhivaadi hisse, shayed aadhe kaa bhugtan karna pasand karati hain. americi farmon key liye iss ghatana key kuchh pramaan aalok bhargav dwara pradaan kiye gaye hain jinhone paaya kii uchch labhansh bhugtan cumm share punarkhareed kartaa haye, halanki isake vipareet sach naheen haye.
mukt nakadi pravaah kaa bhugtan karane key alawa, punarkhareed kaa upayog sanket dene aur/yaa cumm mulyankan kaa laabh uthaane key liye bhee kiya jaa sakata haye. yadi kissy firm key prabandhak koo lagata haye kii unaki firm kaa stock vartamaan mein usake aantarik moolya seey neeche karobar curr rhaa haye, tou way punarkhareed parr vichaar curr sakate hain. ack khuli bajar punarkhareed, jisake tahat vartamaan bajar moolya key oopar koee premium kaa bhugtan naheen kiya jaataa haye, prabandhak key liye ack sambhaavit laabhdaayak nivesh pradaan kartaa haye. yaani, way vartamaan mein cumm moolya vaale sheyaron koo phir seey khareed sakate hain, bajar key cumm mulyankan koo thheek karane kii prateeksha curr sakate hain, jisase keematen equity key aantarik moolya taka badh jaati hain, aur unhein laabh parr phir seey jaari curr sakate hain. vaikalpik roop seey, way ack nishchit moolya nivida prastaav curr sakate hain, jisake tahat aksar vartamaan bajar moolya parr ack premium kii peshkash kii jaati haye; yeh bajar koo ack majboot sanket bhejata haye kii unakaa maanana haye kii firm kii equity kaa cumm moolya haye, joe sheyaron koo phir seey khareedane key liye bajar moolya seey adhik bhugtan karane kii unaki ichcha seey saabit hotaa haye. haalaanki, vidvaanon kaa yeh bhee sujhaav haye kii kabhi-kabhi punarkhareed ack sastee baat hoe sakati haye aur punarkhareed key lachilepan key kaaran ack bhraamak sanket dey sakati haye.
company kaa karyakari kshatipurti aksar share punarkhareed seey prabhaavit hotaa haye. unake puraskaron kaa ack hissa prati share lakshyon koo puuraa karane kii unaki kshamata seey judaa hoe sakata haye. isake alawa, sabhi share punarkhareed unaki share protsaahan yojanaon mein vaade kiye gaye sheyaron key moolya koo badhaati hain. bhargav ney bataaya kii sheersh adhikaariyon dwara prayog kiye jaane vaale stock vikalp bhavishya mein aapke dwara share kii punarkhareed koo badhaate hain.aiss. firm. adhik hissedari kii punarkhareed ney, badale mein, utpaadaktaa badhaane key liye mahatvapurna anusandhaan aur vikas kharchon koo kaafee cumm curr diyaa. isake alawa, prati share aaya mein vriddhi sharedharak moolya mein vriddhi key barabar naheen haye. yeh nivesh anupaat lekhankan neeti vikalpon seey prabhaavit hotaa haye aur poonji kii laagat aur bhavishya key nakadi pravaah koo dhyaan mein rakhane mein whiffle rahata haye joe sharedharak moolya key nirdhaarak hain.
yeh sunishchit karane key liye suraksha upaay kiye jaane chaahiye kii share punarkhareed key baare mein nirnay karyakari yaa prabandhakiya puraskar parr unake prabhaav seey prerit naa houn. prati share aaya lakshyon koo punarkhareed key vittiya laabhprad prabhaav koo baahar nikaalane key liye samaayojan karane kii aavashyakta haye aur isi tarah anuchit vriddhi koo beasar karane key liye share protsaahan yojanaon koo samaayojit karane kii aavashyakta haye.
share punarkhareed nigam mein atyadhik matra mein nakadi key sanchay seey bachaati haye. majboot nakadi utpaadan aur poonjigat kharch kii seemit jarooraton vaali companiyan tulanpatra parr nakadi jamaa karengi, joe company koo adhigrahan key liye ack adhik aakarshak lakshya banaati haye, kyonki nakadi kaa upayog adhigrahan karane key liye kiye gaye rinn kaa bhugtan karane key liye kiya jaa sakata haye. isaliye, adhigrahan-virodhi ranneetiyon mein aksar ack kamjor nakadi sthiti banaae rakhna shamil hotaa haye aur share kii punarkhareed stock kii keemat koo badhaati haye, jisase adhigrahan adhik mahanga hoe jaataa haye.
aaya kaa curr-kushal vitaran.
share punarkhareed companiyon koo poonjigat laabh parr tatkaal karadhan key binaa niveshakon koo apani aaya vitarit karane kii anumati detee haye. udaaharan key liye, yadi koee company duss laakh sheyaron parr labhansh mein 100,000 dollar yaa prati share 10 sent labhansh key roop mein bhugtan karati haye, tou niveshakon koo iss samvitaran parr curr lugg sakata haye. iska matlab haye kii prati share aaya kaa 10 sent praapt karane key bajaay, way 15 pratishat curr darr parr 8.5 sent (. 10 × (1−15)) praapt karate hain aur 1.5 sent sarkaar koo jaataa haye. 10 sheyaron vaale niveshak koo 85 sent aur sarkaar koo 15 sent milenge. choonki company koo iss paise kaa bhugtan karna haye, isaliye share kii keemat tadnusar 10 dollar seey ghatkar 9.90 dollar hoe jaati haye, isaliye 10 sheyaron vaale niveshak key paas abb 99 dollar + 85 dollar labhansh yaa $99.85 haye. nishchit roop seey, niveshak jaruri naheen kii sheyaron koo bechkar aur share kii keemat koo cumm karke labhansh bhugtan kaa jawab dein; jabaki labhansh kaa bhugtan takniki roop seey company key book value koo cumm curr detaa haye, labhansh kaa bhugtan karane kii kshamata aur ichcha aksar sakaratmak roop seey dekhi jaati haye, aur share kii keemat bhee badh sakati haye.
isaki tulanaa 100,000 dollar key sheyaron koo vaapas khareedane parr kharch karane seey karein. yeh bajar seey 10,000 sheyaron koo hataa dega, jisase 990,000 share pratyek 10 dollar (($10,000,000-US $100,000)/990,000 = $10) parr reh jaayenge. abb, 10 sheyaron vaale niveshak key paas abhee bhee 100 dollar hain, aur sarkaar koo koee tatkaal curr rajaswa naheen milata haye. antatah, poori tarah seey equity-vittaposhit vyavasaay maanate hue niveshak sampatti mein koee shuddh parivartan naheen honah chaahiye. haalaanki yeh asamaanta maanati haye kii bechane vaale sharedharakon key liye koee poonjigat laabh curr naheen haye.
nyu key professor edward wolf ney yuu. aiss. mein maujooda dhana asamaanta koo badhaane key liye iss drishtikon kii aalochana kii haye.aiss. curr key bojh koo 1 pratishat sabse ameer logon seey door karke.2016 taka desh kii kull sampatti kaa lagbhag 40 pratishat hissa rakhane vaale parivaaron kii sankhya 90 pratishat seey cumm haye, joe iss raashi kaa lagbhag aadhaa hissa rakhate hain.
share baay-back labhansh kii tulanaa mein adhik curr-kushal hotey hain jaba poonjigat laabh parr curr kii darr labhansh parr curr kii darr seey cumm hoti haye.
vidhiyaan.
khula bajar.
sanyukt raajya america mein sabse aam share punarkhareed vidhi khule bajar mein stock punarkhareed haye, joe sabhi punarkhareed kaa lagbhag 95 pratishat haye. ack firm ghoshana karegi kii vaha samay-samay parr khule bajar mein kuchh sheyaron koo phir seey khareedegi kyonki bajar kii sthiti yeh taya karane kaa vikalp nirdhaarit karati haye kii kyaa, kaba aur kitna phir seey kharidana haye. khule bajar mein punah khareed maheenon yaa varshon taka bhee hoe sakati haye. haalaanki, dainik punarkhareed seemaaen hain joe stock kii matra koo pratibandhit karati hain jise maheenon seey laker varshon taka key ack vishesh samay antaral parr kharida jaa sakata haye. seik niyam 10bee-18 key anusaar, jarikarta ausat dainik matra key 25 pratishat seey adhik kii khareed naheen curr sakata haye.
khule bajar mein stock kii punarkhareed joe bajar mein sheyaron kii deerghakaalik maang koo bahut badhaati haye, jaba taka punarkhareed kaa sanchaalan jaari rahata haye, taba taka kimaton koo prabhaavit karane kii sambhavana haye. udaaharan key liye, astrazeneca ney 2011 aur 2012 mein ack aise bajar mein 11 arab dollar key share kii punarkhareed kii shuruat kii, jiska anuman thaa kii alpakaalik share lenden koo chhodkar, 30 arab dollar kaa vaarshik karobar huaa thaa. astrazeneca ney 2013 aeye. jee. aim. mein daavaa kiya kii unake khule bajar key hastakshepon kaa asthaayi moolya prabhaav naheen hoga, jabaki hastakshep jaari rahey, lekin koee saboot naheen diyaa.
twarit share punarkhareed (aeye. aiss. aar.).
twarit share punarkhareed (aeye. aiss. aar.) ack share punarkhareed ranneeti haye jisamen ack company apane saarvajanik roop seey karobar kiye jaane vaale equity sheyaron key ack badey hisse koo phir seey khareedati haye. laine-daine koo prabhaavi banaane key liye companiyan vishesh nivesh bainkon parr nirbhar karati hain. ack vishisht aeye. aiss. aar. lenden mein, company nivesh baink key saamane nakadi vitarit karati haye aur niyamon kaa paalan karate hue apane sheyaron koo bhavishya kii nirdisht tithi parr vitarit karane key liye ack agrim anubandh karati haye. baad mein, baink company key sheyaron koo udhaar letaa haye, aur una sheyaron koo company koo vaapas vitarit kartaa haye. companiyan aksar twarit share punarkhareed (aeye. aiss. aar.) karyakramon mein sanlagn hoti hain, yadi unhein company key aantarik mulyankan key baare mein kuchh vishvaas haye yaa yadi way sharedharakon koo poonji vaapsee kii pratibaddhata rakhate hain.
nishchit moolya kaa nivida.
1981 seey pahale, sabhi nivida prastaav punarkhareed ack nishchit moolya nivida prastaav kaa upayog karke nishpaadit kiye gaye they. yeh prastaav saarvajanik prakateekaran key saath ack ekal khareed moolya, maange gaye sheyaron kii sankhya aur prastaav kii avadhi koo pahale seey nirdisht kartaa haye. prastaav koo nyuntam sankhya mein sheyaron kii nivida praapt karane parr sashart banaaya jaa sakata haye, aur yeh prastaav kii samaapti tithi seey pahale nivida kiye gaye sheyaron koo nikaalane kii anumati dey sakata haye. sharedharak taya karate hain kii bhaag lena haye yaa naheen, aur yadi aisaa haye, tou nirdisht moolya parr firm koo nivida dene key liye sheyaron kii sankhya. aksar, adhikaariyon aur nideshakon koo nivida prastaavon mein bhaag lene seey roque diyaa jaataa haye. yadi nivida mein diye gaye sheyaron kii sankhya maangi gaee sankhya seey adhik haye, tou company una sabhi sheyaron kii tulanaa mein cumm khareed karati haye joe khareed moolya parr nivida mein shamil kiye gaye they. yadi nivida mein diye gaye sheyaron kii sankhya maangi gaee sankhya seey cumm haye, tou company prastaav kii samaapti tithi badhaane kaa vikalp chuna sakati haye.
dutch nilami.
1981 mein dutch nilami share punarkhareed kii shuruat nivida prastaav key ack vaikalpik roop kii anumati detee haye. dutch nilami prastaav ack moolya seema koo nirdisht kartaa haye jisake bheetar sheyaron koo antatah kharida jaayega. sharedharakon koo, yadi way chaahen, tou bataae gaye dayare key bheetar kissy bhee moolya parr apane stock koo nivida dene key liye aamantrit kiya jaataa haye. firm taba inn pratikriyaon koo sankalit karati haye, jisase stock key liye maang vakr banata haye. khareed moolya sabse cumm moolya haye joe firm koo prastaav mein maange gaye sheyaron kii sankhya khareedane kii anumati detaa haye, aur firm usa moolya parr yaa usase cumm bolly lagaane vaale sabhi niveshakon koo usa moolya kaa bhugtan karati haye. yadi nivida mein diye gaye sheyaron kii sankhya maangi gaee sankhya seey adhik haye, tou company una sabhi sheyaron seey cumm khareed karati haye jinhone khareed moolya parr yaa usase cumm bolly mein bolly lagaai haye. yadi bahut cumm sheyaron key liye nivida dee jaati haye, tou firm yaa tou prastaav koo radd curr detee haye (basharte kii ise nyuntam sweekriti parr sashart banaaya gayaa hoe), yaa vaha sabhi nivida kiye gaye sheyaron koo adhikatam moolya parr vaapas khareedati haye.
dutch nilami kaa upayog karane vaali pahali company 1981 mein chhote shipyard they.
prakaar.
chuninda punarkhareed.
vyaapak roop seey, ack chayanaatmak punarkhareed vaha haye jisamen pratyek sharedharak koo samaan prastaav naheen diye jaate hain, udaaharan key liye, yadi company mein kewal kuchh sharedharakon koo prastaav diye jaate hain. sanyukt raajya america mein, ack chayanaatmak punarkhareed key liye kissy vishesh sharedharak anumodan kii aavashyakta naheen haye. haalaanki, britten mein, yojana koo pahale sabhi sharedharakon dwara anumodit kiya jaanaa chaahiye, yaa sadasyon key ack vishesh prastaav (75 pratishat bahumat kii aavashyakta) dwara jisamen sharedharakon yaa unake sahyogiyon koo bechkar koee vote naheen daala jaataa haye. sharedharak ack chuninda punarkhareed koo manjuri dene key liye ack vishesh prastaav key paksh mein matdan naheen curr sakate hain. chayanaatmak punarkhareed parr matdan karane key liye baithak bulaane vaale sharedharakon koo diye gaye notice mein prastaav key liye praasangik sabhi bhautik jaankaari koo nirdhaarit karane vaalaa ack bayaan shamil honah chaahiye, halanki company key liye yeh aavashyak naheen haye kii vaha sharedharakon koo pahale seey hii prakat kii gaee jaankaari pradaan karey, yadi vaha anuchit hoga.
anya prakaar.
ack company company yaa kissy sambandhit company key karmchaariyon yaa vetanbhogi nideshakon key paas yaa unake liye rakhe gaye sheyaron koo bhee vaapas khareed sakati haye. iss prakaar kii punarkhareed, jise "karmchari share yojana punarkhareed" key roop mein sandarbhit kiya jaataa haye, key liye ack samanya samadhan kii aavashyakta hoti haye. ack soochibaddh company, yadi 10/12 seema seey adhik haye tou ack samanya prastaav paarit honey key baad, stock exchange parr bajar mein vyaapaar mein apane sheyaron koo vaapas khareed sakati haye. stock exchange key niyam "bajar mein punarkhareed" parr lagu hotey hain. ack soochibaddh company sharedharakon seey sheyaron key gair-vipanan yogya parcel bhee khareed sakati haye (jise "nyuntam holding buyback" kahaa jaataa haye). isake liye samadhan kii aavashyakta naheen haye lekin khareede gaye sheyaron koo abhee bhee radd kiya jaanaa chaahiye.
aarthik prabhaav.
1970 key dashak seey share punarkhareed kaa aalochanatmak mulyankan kiya gayaa haye, lekin 1982 key baad, pratibhootiyon aur vinimay aayog ney unhein kaafee hudd taka maaf curr diyaa. usa samay, agency ney pahale seey hii yeh pataa lagaa liya thaa kii "badee matra mein stock punarkhareed bajar mein herfer karegi. kewal jaba niyam 10bee-18 koo sanyukt raajya america mein lagu kiya gayaa thaa, taba stock punarkhareed koo "lagbhag aniyamit" key roop mein dekhaa gayaa thaa. 
roozvelt sansthaan key ack arthashastri lenor palladino key anusaar, stock baay back karyakram hamari asantulit arthavyavastha key chalakon mein seey ack hain, jisamen corporate laabh aur sharedharak bhugtan badhana jaari haye jabaki vishisht shramikon key liye majdoori sapaat rahati haye." 
aprail 2022 mein, starbucks dwara howard schultz koo antarim mukhya karyakari adhikaari key roop mein vaapas laane key baad, unhone apane stock punarkhareed karyakram koo nilambit curr diyaa, aur kahaa, "yeh nirnay hamein apane logon aur apane stores mein adhik nivesh karane kii anumati dega-sabhi hitdhaarakon key liye deerghakaalik moolya banaane kaa ekmatra tarika haye."
ack vishisht stock mein vyaapaar matra kaa ack chhota saa hissa punarkhareed key kaaran hotaa haye, jisase unakaa moolya prabhaav bahut cumm hoe jaataa haye aur yeh alpakaalik moolya herfer utpann naheen curr sakata haye. punarkhareed key baad moolya vriddhi mamuli hoti haye aur ausatan ulat naheen hoti haye, yeh sujhaav dete hue kii punarkhareed key baad chhoti keemat mein vriddhi companiyon kii achchi sambhaavanaon kaa sanket detee haye. iss baat kaa bhee koee pramaan naheen haye kii punarkhareed karane vaali farmon key liye bhugtan adhik haye yaa phir seey khareed seey moolyavaan nivesh key avsar badh jaate hain.

