Jammu & Kashmir Bank is currently trading at Rs 1563.30, up by 19.70 points or 1.28% from its previous closing of Rs 1543.60 on the BSE.
The scrip opened at Rs 1560.00 and has touched a high and low of Rs 1586.95 and Rs 1543.00 respectively. So far 34110 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1995.00 on 16-May-2014 and a 52 week low of Rs 995.00 on 08-Aug-2013.
Last one week high and low of the scrip stood at Rs 1888.10 and Rs 1442.00 respectively. The current market cap of the company is Rs 7580.47 crore.
The promoters holding in the company stood at 53.17% while Institutions and Non-Institutions held 32.80% and 14.03% respectively.
Jammu & Kashmir (J&K) Bank, Kashmir-based state-owned bank, is planning to raise Rs 500-600 crore by selling its remaining 5% stake in PNB MetLife. This stake sale is expected to be completed by December.
The bank has already reduced its equity in MetLife from 11% to 5% and by selling this remaining stake it would be completely exiting from life insurance venture. J&K Bank is a corporate agent of Metlife India. It sells life insurance products through its branches network
Jammu & Kashmir Bank is the only state government owned bank in the country with the Government of J&K (GoJK) holding around 53% shareholding in the bank. JKB holds a monopolistic position in the state of J&K constituting majority of the credit and deposits in the state.
