JK Bank stock hits new high of 1097

Srinagar, Oct 9: J&K Bank share today hit all time high of Rs 1095 on BSE and Rs 1097 on NSE. With an unprecedented surge of more than Rs 41 in a single day, the Bank’s share price st...

Srinagar, Oct 9: J&K Bank share today hit all time high of Rs 1095 on BSE and Rs 1097 on NSE.
 With an unprecedented surge of more than Rs 41 in a single day, the Bank's share price stood at Rs 1073.85 on BSE and Rs 1076.05 on NSE when the markets closed.
 The shares had previously opened at over Rs 1034 on both the bourses.
 The stock saw a brisk trading of more than 1.46 lakh shares traded during the day, spokesperson of J&K Bank in a statement said.
 Pertinently, Anand Rathi Securities had recently predicted rise of over 10 per cent in the Bank's share price from its current value.
 "J&K Bank has been trading within a rising channel on the weekly charts which is highly positive," analysts at the firm said in a note to clients.
 Moreover, Prabhudas Lilladher, a reputed stock broking firm believed, "J&K Bank is best positioned to benefit from the J&K story. Also, outside J&K, the bank is concentrating on expanding lending expertise to mid corporates (predominantly AAA till now) and that will aid in improving lending yields."

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