JK Bank stock price Rs1010
GK NEWS NETWORK
Srinagar, July 2: J&K Bank share price today crossed Rs 1,000 mark.
While the share hit Rs 1010 on BSE and Rs 1011 on NSE, it closed at Rs 1001 on BSE and Rs 993.55 on NSE.
More than 1.2 lakh shares were traded during the day at both the stock exchanges.
Pertinently, PN Vijay, renowned Portfolio Manager recently told CNBC-TV18, "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. For the last quarter, J&K bank reported a net profit increase of more than 50% for the year as a whole which was commendable given the general scenario in the banking space."
Advising investors to look at J&K Bank as a stock to add up to their portfolio, Vijay said, "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, which are trading at about 6 times its price earnings multiplier.”
“In terms of valuations, J&K Bank is around 0.9 times adjusted book of the current year and in terms of price to earnings, it is quoting at about 5.5 times its price to earnings. So one is looking at a pretty smart upside and one is putting a target of about Rs 1,050 on this counter,” he added.
Lastupdate on : Mon, 2 Jul 2012 21:30:00 Makkah time
Lastupdate on : Mon, 2 Jul 2012 18:30:00 GMT
Lastupdate on : Tue, 3 Jul 2012 00:00:00 IST
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