J&K BANK Surges by 7%; BSE BANKEX Index Down 1.2%
March 17, 2020 09:36 AM

J&K BANK share price has zoomed 7% and is presently trading at Rs 15.

Meanwhile, the BSE BANKEX Index is at 26,869 (down 1.2%).

Among the top Gainers in the BSE BANKEX Index today are J&K BANK (up 6.8%) and YES BANK (up 19.9%).

BANK OF BARODA (down 0.2%) and AXIS BANK (down 1.0%) are among the top losers today.

Over the last one year, J&K BANK has moved down from Rs 49 to Rs 15, registering a loss of Rs 34 (down 69.6%).

On the other hand, the BSE BANKEX has moved down from 33,205 to 26,869, loss of 6,336 points (down 21.2%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 0.3%).

What About the Benchmark Indices?

The BSE Sensex is at 31,832 (down 0.7%).

The top gainers among the BSE Sensex stocks today are TATA STEEL (up 4.5%), SUN PHARMA (up 2.7%) and ONGC (up 2.4%). Other gainers include ITC (up 1.5%) and RELIANCE IND. (up 1.5%). The most traded stocks in the BSE Sensex are ONGC and SBI.

In the meantime, NSE Nifty is at 9,315 (down 0.1%). The top gainers in the NSE Nifty include YES BANK (up 19.9%), TATA STEEL (up 4.9%) and ADANI PORTS & SEZ (up 4.4%). Other gainers include SUN PHARMA (up 4.3%) and VEDANTA LTD (up 4.0%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 31,832, registering a loss of 6,263 points (down 18.15%).

J&K BANK Financial Update...

J&K BANK net profit down at Rs 496 million for the quarter ended December 2019, compared to a loss of Rs 1 billion a year ago. Operating income rose 3.2% to Rs 20.7 billion during the period as against Rs 20.0 billion in October-December 2018.

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 down 0.1x.