J&K BANK Surges by 6%; BSE BANKEX Index Down 0.5%

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J&K BANK Surges by 6%; BSE BANKEX Index Down 0.5%
Wed, 10 Apr 03:02 PM

J&K BANK share price has zoomed 6% and is presently trading at Rs 63.

Meanwhile, the BSE BANKEX Index is at 33,921 (down 0.5%).

Among the top Gainers in the BSE BANKEX Index today is J&K BANK (up 6.1%).

INDUSIND BANK (down 0.1%) and AXIS BANK (down 0.1%) are among the top losers today.

Over the last one year, J&K BANK has moved up from Rs 59 to Rs 63, registering a gain of Rs 5 (up 7.8%).

On the other hand, the BSE BANKEX has moved up from 28,106 to 33,921, registering a gain of 5,815 points (up 19.9%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 47.3%), ICICI BANK (up 40.8%) and KOTAK MAHINDRA BANK (up 21.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,950 (down 0.6%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS (up 4.3%), TATA MOTORS DVR (up 3.5%) and WIPRO (up 2.8%). Other gainers include HUL (up 1.1%) and SUN PHARMA (up 0.9%). The most traded stocks in the BSE Sensex are TATA MOTORS and WIPRO.

In the meantime, NSE Nifty is at 11,680 (down 0.5%). TATA MOTORS (up 5.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,789 to 38,950, registering a gain of 5,161 points (up 14.6%).

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 1.3x.



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