J&K BANK Plunges by 6%; BSE BANKEX Index Down 0.4%

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J&K BANK Plunges by 6%; BSE BANKEX Index Down 0.4%
Wed, 12 Jun 09:26 AM

J&K BANK share price has plunged 6% and is presently trading at Rs 48.

Meanwhile, the BSE BANKEX Index is at 35,100 (down 0.4%).

Among the top losers in the BSE BANKEX Index today is J&K BANK (down 5.6%).

INDUSIND BANK (up 0.2%) and BANK OF BARODA (up 0.2%) are among the top gainers today.

Over the last one year, J&K BANK has moved down from Rs 59 to Rs 48, registering a loss of Rs 10 (down 17.4%)..

The BSE BANKEX has moved up from 29,609 to 35,100, registering a gain of 5,491 points (up 18.5%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 50.1%), ICICI BANK (up 46.3%) and CITY UNION BANK (up 27.8%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,982 (down 0.3%). The top gainers among the BSE Sensex stocks today are ASIAN PAINTS (up 0.8%). The most traded stocks in the BSE Sensex are TATA STEEL and RELIANCE IND..

In the meantime, NSE Nifty is at 11,962 (down 0.4%). TATA STEEL (up 0.8%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,483 to 39,982, registering a gain of 4,499 points (up 12.3%).

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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