SRINAGAR: J&K Bank shares Tuesday jumped to its highest ever price of Rs1635 on NSE and Rs 1629 on BSE as the bank was among top gainers in Group A companies.
The stock recorded an appreciation of 5.56 percent and 5.04 percent at NSE and BSE respectively during the day.
The share surged remarkably by around Rs 80 on both stock exchanges and stood at Rs 1623.45 on NSE and Rs 1614.45 on BSE when the markets closed.
While majority of the shares, around 1.45 lakh were traded at National Stock Exchange, more than 17 thousand shares were also traded on Asia’s oldest stock exchange, Bombay Stock Exchange.
“During the bank’s Platinum Jubilee Year, the share has leaped by around Rs 400 displaying an unshakable market trust in growth and capacities of the bank,” a bank spokesperson said.
Credit Suisse Group, a leading global financial services company, recently picked J&K Bank among top five organisations in Asia as an interesting investment opportunity. The selection was made on the basis of business outlook, financial strength, valuation, market cap and trading liquidity.
The share of the bank for 2014 has been targeted by the Group at Rs 1700 from Rs 1226.95 with potential upside of 38.6 percent.