KL Report
SRINAGAR
Private sector J&K Bank share price while recording an appreciation of 4.6% crossed Rs 1,550 mark on Tuesday. It touched all time high of Rs 1551 on BSE and Rs 1550 on NSE.
With a remarkable surge of Rs.67.95, the Bank’s share price stood at Rs 1543.80 at BSE and Rs 1542.60 at NSE when the markets closed.
The share saw a brisk trading of more than 1.80 lac shares during the day.
Though overall behaviour of the market during the day was reasonably bullish, J&K Bank stocks have put up an outstanding performance, said a market analyst.
“If you look at weekly charts, the bank’s trading patterns have shown great resilience and are highly positive. This speaks about the market’s confidence in the bank”, he added.
Notably, Portfolio Manager, PN Vijay, had recently told media that “I have been trying to do some value mining in the public sector bank space which has been hit hard due to fears of bad performing loans. Jammu and Kashmir Bank is not normally on investors’ radar but it is an excellent bank with an excellent balance sheet and growth.
Some more renowned portfolio managers have been advising investors to look at J&K Bank as a stock to add up to their portfolio. “On the whole, the balance sheet (of the bank) is very healthy by any standards and I would say it is far better than most of the private sector banks”, they said.
