KL Report
SRINAGAR
J&K Bank ranks fifth among the top 10 rated sensitive stocks which can deliver up to 26% return in near term, said a report that appeared in a prominent Mumbai based business daily.
“J&K Bank fell sharply on 30th May 2014 from a high of 1849 to a low of 1470. However, the stock has been showing signs of accumulation thereafter and continues to be in a strong uptrend. The risk reward ratio appears favourable”, a company statement said quoting the daily report.
Quoting Senior Vice President – Investment Strategies at Microsec Capital Vinit Pgaria, the report maintained an investment call of ‘Buy’ on the bank’s stock with the ‘Target Price’ fixed at Rs 1850 and predicted return of 14 percent in the near term, the statement informed.
“The list collated by the newspaper contains stocks of ICICI Bank, HDFC, PNB and Yes Bank besides Bajaj Auto, Reliance Infrastructure, Larsen & Turbo, Sesa Sterlite and Inidabulls Real Estate,”the statement further said.
Notably, the bank ranks third among the bank stocks.
