J&K BANK Plunges by 6%; BSE BANKEX Index Down 1.3%
May 13, 2019 03:24 PM

J&K BANK share price has plunged 6% and is presently trading at Rs 55.

Meanwhile, the BSE BANKEX Index is at 32,467 (down 1.3%).

Among the top losers in the BSE BANKEX Index today are J&K BANK (down 5.7%) and YES BANK (down 5.9%).

Over the last one year, J&K BANK has moved up from Rs 53 to Rs 55, registering a gain of Rs 1 (up 2.7%)..

The BSE BANKEX has moved up from 29,358 to 32,467, registering a gain of 3,109 points (up 10.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 33.4%), SBI (up 23.5%) and ICICI BANK (up 22.5%).

What About the Benchmark Indices?

The BSE Sensex is at 37,584 (down 1.1%). The top gainers among the BSE Sensex stocks today are HDFC (up 1.0%). The most traded stocks in the BSE Sensex are INFOSYS and HDFC.

In the meantime, NSE Nifty is at 11,300 (down 1.3%). TECH MAHINDRA (up 1.1%) and TITAN (up 1.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,246 to 37,584, registering a gain of 2,338 points (up 5.1%).

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.