KL NEWS NETWORK
SRINAGAR
J&K Bank Srinagar headquarter
With the change in guard taking place in the J&K Bank, the bank’s counter shares witnessed profit booking at the stock exchanges.
On BSE, 1.70 lakh shares of the bank were traded till around 3:00 PM compared with average daily volume of 3.57 lakh shares in the past one quarter.
The stock hit a high of Rs 91 and a low of Rs 86.05 till 3:00 PM and closed at 86.90.
Experts attribute the fall in the share value to profit booking by the investors after a recent rally. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 28.35% compared with 2.61% decline in the Sensex.
One month before the share was trading at Rs 76.00
J&K Bank is the only listed company of the state and the only state-owned scheduled commercial bank in India.
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