J&K Bank up on performance hopes
Despite the devastation caused by the earthquake in the State, the Jammu & Kashmir Bank stock rose on Monday.
The stock closed at Rs 457.70, up 3.04 per cent with a volume of 61,545 shares on the Bombay Stock Exchange.
Dealers said that the rise in the stock price was in anticipation of good financial performance expected for the September quarter. Dealers said that last year, the bank performance was affected due to fall in treasury income and provision of bad debts.
The talk is that both these factors would not affect the company's performance in the current fiscal. The bank's decision to spread its business outside the State is also seen as positive.
The stock closed at Rs 457.70, up 3.04 per cent with a volume of 61,545 shares on the Bombay Stock Exchange.
Dealers said that the rise in the stock price was in anticipation of good financial performance expected for the September quarter. Dealers said that last year, the bank performance was affected due to fall in treasury income and provision of bad debts.
The talk is that both these factors would not affect the company's performance in the current fiscal. The bank's decision to spread its business outside the State is also seen as positive.
posted by Sensex-Blog Admin at 11:00 PM
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