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J&K Bank Plunges 5%; BSE BANKEX Index Down 1.3%
Fri, 25 Oct 12:25

J&K Bank Plunges 5%; BSE BANKEX Index Down 1.3%Image source: Nikada/www.istockphoto.com

J&K Bank share price has plunged 5% and is presently trading at Rs 89.2.

Meanwhile, the BSE BANKEX index is at 57,738.7 (down 1.3%).

Among the top losers in the BSE BANKEX index today are Indusind Bank (down 19.4%) and AU SMALL FINANCE BANK (down 5.6%).

Kotak Bank (up 0.5%) and Axis Bank (up 0.3%) are among the top gainers today.

Over the last one year, J&K Bank has moved down from Rs 100.3 to Rs 89.2, registering a loss of Rs 11.1 (down 11.0%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 57,738.7, registering a gain of 19.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.4%), ICICI Bank (up 34.1%) and Federal Bank (up 29.8%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 79,343.6 (down 0.9%).

The top losers among the BSE Sensex today are Indusind Bank (down 19.4%) and M&M (down 4.6%). The most traded stocks in the BSE Sensex are Tata Steel and Indusind Bank.

In the meantime, NSE Nifty is at 24,135.5 (down 1.1%). Indusind Bank and M&M are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 79,343.6, registering a gain of 14,771.7 points (up 22.9%).

J&K Bank Financial Update...

J&K Bank net profit grew 27.6% YoY to Rs 4,167 million for the quarter ended June 2024, compared to a profit of Rs 3,267 million a year ago. Net sales rose 12.7% to Rs 29,944 million during the period as against Rs 26,572 million in April-June 2023.

For the year ended March 2024, J&K Bank reported 50.0% increase in net profit to Rs 17,712 million compared to net profit of Rs 11,805 million during FY23. Revenue of the company grew 19.9% to Rs 112,132 million during FY24.

The current Price to earnings ratio of J&K Bank, based on rolling 12 month earnings, stands at 5.3.

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