Jammu & Kashmir Bank jumps on inking pact with LIC
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The Jammu & Kashmir Bank is currently trading at Rs. 46.70, up by 0.83 points or 1.81% from its previous closing of Rs. 45.87 on the BSE.
The scrip opened at Rs. 47.63 and has touched a high and low of Rs. 47.65 and Rs. 46.25 respectively. So far 222435 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 62.75 on 13-Dec-2022 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. 53.05 and Rs. 44.75 respectively. The current market cap of the company is Rs. 4486.27 crore.
The promoters holding in the company stood at 68.03%, while Institutions and Non-Institutions held 4.74% and 27.23% respectively.
Jammu & Kashmir Bank has signed Corporate Agency Agreement with Life Insurance Corporation of India (LIC) on March 14, 2023 for servicing and soliciting of their life insurance products through its branch network. The said agreement shall be operational/effective from April 1, 2023.
Earlier, the Bank had signed a memorandum of understanding (MoU) with the Administration of Ladakh union territory, conferring preferential status to each other.
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.
