Jammu & Kashmir Bank gains after bulk deal

Jammu & Kashmir Bank rose 0.82% to Rs 61.50 at 11:10 IST on BSE after a bulk deal of 16.14 lakh shares was executed on the scrip at Rs 60.90 per share at 09:17 IST on BSE today, 5 April 2016.

Meanwhile, the S&P BSE Sensex was down 136.23 points or 0.54% at 25,263.42

On BSE, so far 18.25 lakh shares were traded in the counter as against average daily volume of 1.09 lakh shares in the past one quarter. The stock hit a high of Rs 62.70 and a low of Rs 60.80 so far during the day. The stock had hit a 52-week high of Rs 118.40 on 5 June 2015. The stock had hit a 52-week low of Rs 60 on 29 March 2016. The stock had underperformed the market over the past one month till 4 April 2016, falling 5.86% compared with Sensex's 3.06% rise. The scrip had also underperformed the market in past one quarter, falling 27.16% as against Sensex's 0.87% fall.

 

The small-cap bank has equity capital of Rs 48.48 crore. Face value per share is Re 1.

Jammu & Kashmir Bank's net profit rose 12.5% to Rs 117.68 crore on 2.3% fall in total income to Rs 1806.08 crore in Q3 December 2015 over Q3 December 2014.

Jammu & Kashmir Bank is the only bank in the country with majority ownership vested with a state government. The J&K state government holds 53.17% stake in the bank as at 31 December 2015.

Powered by Capital Market - Live News