SRINAGAR, Nov 1: With an appreciation of 9.4 percent in its share price, the Jammu and Kashmir bank on Thursday topped the gainers list as its stock hit an all time high of Rs 1225 and Rs 1224.55 at Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) respectively.
The surge in the stock price came shortly after the Bank posted 35% increase in its Q2 results.
The share price witnessed a sharp increase of Rs 105 at both the stock exchanges.
Chairman and CEO of the bank, Mushtaq Ahmed Uri said: “We value the trust of our investors as one of the key factors responsible for our uninterrupted growth story. This is the shareholders confidence in the bank.”
Notably, more than 7.4 lakh shares were traded during the day at both the bourses.
The J&K bank, the conflict torn state’s premier financial institution has reported a surge of 35 percent in a net profit of Rs 2.70 billion for the quarter ended September 30, 2012 as compared with Rs 1.20 billion for the quarter ended September 30 last year.
Total income has gone up 29.73 percent to Rs 15.92 billion for the quarter ended Sept 30, 2012 from Rs 12.27 billion in the year ago period, which rose the profit for the quarter.
Net NPA was at Rs 553.4 million, as compared to Rs 630.3 million as on corresponding quarter last year, representing an decrease of 12.20 percent.
Meanwhile in percentage term, net NPA was at 0.16 percent as on the quarter ended Sept. 30, 2012, as compared to 0.22 percent in the year ago period.
Capital Adequacy Ratio (CAR) under Basel II of the bank, was at 13.73 percent as on Sept. 30, 2012 as compared to 13.61 percent in the year ago period.
(with inputs from 4-traders.com)
