J&K Bank shines on aiming to tap benefits of phase of accelerated growth in Jammu and Kashmir
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The Jammu & Kashmir Bank is currently trading at Rs. 32.40, up by 0.75 points or 2.37% from its previous closing of Rs. 31.65 on the BSE.
The scrip opened at Rs. 32.00 and has touched a high and low of Rs. 32.50 and Rs. 31.80 respectively. So far 145620 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 48.20 on 08-Nov-2021 and a 52 week low of Rs. 23.80 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 32.50 and Rs. 29.20 respectively. The current market cap of the company is Rs. 3105.58 crore.
The promoters holding in the company stood at 68.03%, while Institutions and Non-Institutions held 1.70% and 30.27% respectively.
Jammu & Kashmir (J&K) Bank is aiming to tap the benefits of the phase of accelerated growth in Jammu and Kashmir driven by various measures taken by the Union Territory administration, especially in infrastructure, agriculture and tourism sectors.
The bank also plans to outsource most of the micro and para-banking services like utility bill collection, remittances and small payments to business correspondents. This will not only reduce the burden of Bank but ensure the viability of all the business correspondents while taking the services closer to the doorsteps of its customers especially in rural and semi-urban areas.
Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.
