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J&K BANK Surges by 5%; BSE BANKEX Index Up 0.8%

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J&K BANK Surges by 5%; BSE BANKEX Index Up 0.8%
Wed, 22 May 10:42 AM

J&K BANK share price has zoomed 5% and is presently trading at Rs 62.

Meanwhile, the BSE BANKEX Index is at 34,205 (up 0.8%).

Among the top Gainers in the BSE BANKEX Index today is J&K BANK (up 5.2%).

SBI (down 0.2%) and INDUSIND BANK (down 2.2%) are among the top losers today.

Over the last one year, J&K BANK has moved up from Rs 50 to Rs 62, registering a gain of Rs 11 (up 21.4%).

On the other hand, the BSE BANKEX has moved up from 28,851 to 34,205, registering a gain of 5,354 points (up 18.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 47.8%), ICICI BANK (up 40.7%) and SBI (up 37.5%).

What About the Benchmark Indices?

The BSE Sensex is at 39,197 (up 0.5%).

The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 2.2%), ONGC (up 2.0%) and KOTAK MAHINDRA BANK (up 1.8%). Other gainers include ICICI BANK (up 1.8%) and HDFC (up 1.5%). The most traded stocks in the BSE Sensex are TATA MOTORS and RELIANCE IND..

In the meantime, NSE Nifty is at 11,761 (up 0.3%). SUN PHARMA (up 2.6%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,616 to 39,197, registering a gain of 4,581 points (up 13.2%).

J&K BANK Financial Update...

J&K BANK net profit stood at Rs 2 billion for the quarter ended March 2019, compared to a profit of Rs 1 billion a year ago. Operating income rose 3.4% to Rs 20.7 billion during the period as against Rs 20.0 billion in January-March 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 0.7x.

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