J&K BANK Surges by 5%; BSE BANKEX Index Up 1.3%

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J&K BANK Surges by 5%; BSE BANKEX Index Up 1.3%
Wed, 13 Mar 02:34 PM

J&K BANK share price has zoomed 5% and is presently trading at Rs 49.

Meanwhile, the BSE BANKEX Index is at 32,380 (up 1.3%).

Among the top Gainers in the BSE BANKEX Index today is J&K BANK (up 5.4%).

AXIS BANK and KOTAK MAHINDRA BANK (down 0.5%) are among the top losers today.

Over the last one year, J&K BANK has moved down from Rs 60 to Rs 49, registering a loss of Rs 11 (down 19.2%).

On the other hand, the BSE BANKEX has moved up from 27,785 to 32,380, registering a gain of 4,595 points (up 16.3%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 42.9%), ICICI BANK (up 30.2%) and HDFC BANK (up 19.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 37,778 (up 0.5%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 4.8%), INDUSIND BANK (up 4.0%) and HDFC BANK (up 2.5%). Other gainers include BAJAJ FINANCE (up 1.7%) and SBI (up 1.5%). The most traded stocks in the BSE Sensex are YES BANK and INDUSIND BANK.

In the meantime, NSE Nifty is at 11,349 (up 0.2%). INDUSIND BANK (up 4.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,918 to 37,778, registering a gain of 3,860 points (up 11.2%).

J&K BANK Financial Update...

J&K BANK net profit stood at Rs 1 billion for the quarter ended December 2018, compared to a profit of Rs 725 million a year ago. Operating income rose 19.0% to Rs 20.0 billion during the period as against Rs 16.8 billion in October-December 2017.

For the year ended March 2018, J&K BANK reported 112.4% decrease in net profit to Rs 2.0 billion compared to net profit of Rs 16.3 billion during FY17.

Revenue of the company grew 1.0% to Rs 66 billion during FY18.

The current Price to earnings ratio of J&K BANK, based on rolling 12 month earnings, stands at 1.0x.

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Oct 16, 2019 12:27 PM