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JK Bank Shares Touch Rs 1550 At BSE, NSE
Published on
Tuesday, 11 March 2014
7:15 pm
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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.
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