J&K BANK Surges by 7%; BSE BANKEX Index Up 0.2%
March 6, 2019 09:20 AM

J&K BANK share price has zoomed 7% and is presently trading at Rs 43.

Meanwhile, the BSE BANKEX Index is at 30,955 (up 0.2%).

Among the top Gainers in the BSE BANKEX Index today is J&K BANK (up 7.2%).

BANK OF BARODA (down 2.0%) is among the top loser today.

Over the last one year, J&K BANK has moved down from Rs 66 to Rs 43, registering a loss of Rs 23 (down 36.9%).

On the other hand, the BSE BANKEX has moved up from 27,953 to 30,955, registering a gain of 3,002 points (up 10.7%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 40.2%), ICICI BANK (up 19.9%) and KOTAK MAH. BANK (up 13.3%).

What About the Benchmark Indices?

The BSE Sensex is at 36,545 (up 0.3%).

The top gainers among the BSE Sensex stocks today are BHARTI AIRTEL (up 1.9%), INDUSIND BANK (up 1.5%) and HERO MOTOCORP (up 1.4%). Other gainers include VEDANTA LTD (up 1.2%) and POWER GRID (up 1.1%). The most traded stocks in the BSE Sensex are INDUSIND BANK and TATA STEEL.

In the meantime, NSE Nifty is at 11,038 (up 0.3%). INDIABULLS HOU. FIN. (up 3.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,747 to 36,545, registering a gain of 2,798 points (up 8.3%).

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 0.8x.