J&K Bank share moves to Group A stocks Hit all-time high of Rs 1033

   

KL DESK
Srinagar

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JK BANK CEO- Mushtaq Ahmad
JK BANK CEO- Mushtaq Ahmad

India’s leading bourse Bombay Stock Exchange (BSE) announced inclusion of Jammu & Kashmir Bank along with 11 other stocks to Group A, which means among the country’s top ranked shares.

The decision came while the Bank’s share hit an all-time high of Rs 1026 at BSE and Rs 1033 at NSE yesterday.

The share price stayed at over Rs 1008.90 at NSE and Rs 1007.30 at BSE when the markets closed today.

Commenting upon the development, Bank’s Chairman and CEO Sheikh Mushtaq said, “This is a welcome development for us as it reflects a positive surge in investor confidence and recognition of the Bank’s sound fundamentals and robust growth.”

The share price of the Bank has crossed the 1000 mark several times earlier but never stayed as such at the closing of markets.

Notably, few portfolio managers had recently predicted a smart upside for the Bank’s share price as the balance sheet was very healthy by any standards and far better than most of the private sector banks, which were trading at about 6 times its price earnings multiplier.

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