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| JK Bank share touches new high | | ‘Rated third private bank stock ’ | | Early Times Reporter
Jammu | Dec 5
THE SHARE of Jammu and Kashmir Bank, a primer bank in the state, has soared a record high, trading at Rs.841.90 and Rs.840 at National Stock Exchange and Bombay Stock Exchange respectively. The share price of the bank has appreciated considerably since June 2005 when it was recorded at Rs.337.55 at BSE and Rs.335.10 at NSE on June 1,2005 and the Foreign Institutional Investors have shown tremendous faith in the fundamentals of the bank and its holding as on November 30,2007 stood at 34.7 per cent.
The Jammu and Kashmir Bank stock has also out performed the Bankex, which is the index of all listed banks in the country, and now it stands as the third highest private bank stock after ICICI and HDFC banks and fourth among all banks.
The major reason for the buoyancy of the stock is the renewed growth performance of the bank following the new J&K centric strategy .It is widely seen as an innovative strategy in the context of Basel norms and impending globalization and consolidation in the Indian banking sector, a bank release issued here today claimed. |
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