J&K BANK Surges by 10%; BSE BANKEX Index Up 0.5%

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J&K BANK Surges by 10%; BSE BANKEX Index Up 0.5%
Thu, 20 Jun 11:34 AM

J&K BANK share price has zoomed 10% and is presently trading at Rs 38.

Meanwhile, the BSE BANKEX Index is at 34,277 (up 0.5%).

Among the top Gainers in the BSE BANKEX Index today is J&K BANK (up 10.0%).

AXIS BANK (down 0.6%) and FEDERAL BANK (down 0.8%) are among the top losers today.

Over the last one year, J&K BANK has moved down from Rs 56 to Rs 38, registering a loss of Rs 18 (down 32.6%).

On the other hand, the BSE BANKEX has moved up from 29,403 to 34,277, registering a gain of 4,874 points (up 16.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 48.4%), ICICI BANK (up 44.4%) and FEDERAL BANK (up 24.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,307 (up 0.4%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 5.0%), INDUSIND BANK (up 3.0%) and BAJAJ AUTO (up 1.9%). Other gainers include SUN PHARMA (up 1.8%) and BHARTI AIRTEL (up 1.5%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 11,746 (up 0.3%). INDIABULLS HOU. FIN. (up 4.8%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,287 to 39,307, registering a gain of 4,020 points (up 11.3%).

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 0.5x.



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