J&K Bank shares hit highest level in 8 years

Srinagar, September 7: The shares of Jammu and Kashmir Bank soared to their highest level in eight years, experiencing a remarkable gain of over 12 percent compared to the closing price on Wednesday.

In the course of intraday trading, the bank’s stock reached a peak of Rs 103.50 before concluding at Rs 100.80 per share on the NSE. This marks the highest point that Jammu and Kashmir Bank shares have reached since August 2015.

Baldev Prakash, the Managing Director of Jammu and Kashmir Bank, expressed that the bank is attaining new milestones. He credited the diligent efforts of the bank’s employees for achieving the highest profit of Rs 1,197 crore in the previous fiscal year and surpassing the target of conducting business worth 3 lakh crore.

Furthermore, the bank has distributed dividends to its shareholders this year, marking the end of a seven-year hiatus.