J&K Bank gains on fund raising plans

Jammu & Kashmir Bank rose 1.22% to Rs 24.90 after the bank said that its board will meet on 12 May 2021 to consider the proposal of capital infusion of Rs 500 crore by the Government of Jammu & Kashmir.

The Government of Jammu & Kashmir is the promoter shareholder of the bank. It held 68.18% stake in the bank as on 31 March 2021.

J&K Bank offers banking services under the three major divisions as support services, depository services and third party services.

The bank reported 32.8% jump in net profit to Rs 65.94 crore on a 6.9% rise in total income to Rs 2348.02 crore in Q3 FY21 over Q3 FY20.

 

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