Jammu and Kashmir Bank Ltd is quoting at Rs 24.55, up 1.24% on the day as on 12:49 IST on the NSE. The stock is up 85.98% in last one year as compared to a 57.1% gain in NIFTY and a 79.44% gain in the Nifty PSU Bank index.
Jammu and Kashmir Bank Ltd rose for a third straight session today. The stock is quoting at Rs 24.55, up 1.24% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.47% on the day, quoting at 14564.35. The Sensex is at 48648.17, up 0.82%. Jammu and Kashmir Bank Ltd has dropped around 4.84% in last one month.
Meanwhile, Nifty PSU Bank index of which Jammu and Kashmir Bank Ltd is a constituent, has dropped around 0.97% in last one month and is currently quoting at 2113.15, up 1.45% on the day. The volume in the stock stood at 14.78 lakh shares today, compared to the daily average of 36.86 lakh shares in last one month.
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https://mybs.in/2ZdWf6l The Jammu & Kashmir government will infuse up to Rs 500 crore more as equity into Jammu and Kashmir Bank (J&K Bank) as its promoter shareholder. Rating agency India Ratings (Ind-Ra) said J&K Bank will need substantial equity infusion in the first half of this financial year to maintain adequate capital buffers amid high credit costs, until March 2023. The bank’s common equity tier 1 (CET1) ratio marginally improved to 8.56 per cent in December 2020 as against a minimum CET1 requirement of 7.38 per cent. The capital adequacy improved on equity infusion of Rs 500 crore by the J&K government in Q4FY20 and three profitable quarters in FY21. Its CET1 was 8.42 per cent in March 2020 and 9.13 per cent in March 2019. The bank’s board will discuss the proposal of capital infusion.
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