Jammu & Kashmir Bank surges on the BSE

Jammu & Kashmir Bank is currently trading at Rs. 31.00, up by 0.90 points or 2.99% from its previous closing of Rs. 30.10 on the BSE.

The scrip opened at Rs. 31.70 and has touched a high and low of Rs. 31.85 and Rs. 30.75 respectively. So far 1350727 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 32.95 on 18-Feb-2021 and a 52 week low of Rs. 14.10 on 30-Oct-2020.

Last one week high and low of the scrip stood at Rs. 31.85 and Rs. 28.50 respectively. The current market cap of the company is Rs. 2222.40 crore.

The promoters holding in the company stood at 68.18%, while Institutions and Non-Institutions held 3.78% and 28.04% respectively.

Jammu & Kashmir Bank (J&K Bank) is planning to raise up to Rs 150 crore by issuing shares to its employees under the Employee Stock Purchase Scheme. The Compensation Committee of the board in its meeting on June 16, 2021, has recommended issuance of 7.5 crore equity shares of the face value of Re 1 each aggregating up to Rs 150 crore (including premium) in one or more tranches to eligible employees of the bank.

Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.

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