J&K BANK Plunges by 20%; BSE BANKEX Index Up 0.5%

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J&K BANK Plunges by 20%; BSE BANKEX Index Up 0.5%
Mon, 10 Jun 09:20 AM

J&K BANK share price has plunged 20% and is presently trading at Rs 48.

Meanwhile, the BSE BANKEX Index is at 35,043 (up 0.5%).

Among the top losers in the BSE BANKEX Index today is J&K BANK (down 19.7%).

INDUSIND BANK (up 1.9%) and BANK OF BARODA (up 1.5%) are among the top gainers today.

Over the last one year, J&K BANK has moved down from Rs 57 to Rs 48, registering a loss of Rs 10 (down 16.9%)..

The BSE BANKEX has moved up from 29,664 to 35,043, registering a gain of 5,379 points (up 18.1%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 49.4%), ICICI BANK (up 44.1%) and SBI (up 28.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,787 (up 0.4%). The top gainers among the BSE Sensex stocks today are VEDANTA LTD (up 2.2%). The most traded stocks in the BSE Sensex are INDUSIND BANK and HCL TECHNOLOGIES.

In the meantime, NSE Nifty is at 11,935 (up 0.5%). INDIABULLS HOU. FIN. (up 2.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,463 to 39,787, registering a gain of 4,324 points (up 12.2%).

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 0.6x.



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