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J&K Bank share-price rises to 52-week high

SRINAGAR, NOVEMBER 21: In a significant spike today J&K Bank share touched its 52 week-high price at Rs 45.45 on NSE & BSE. The scrip eventually settled at Rs 44.25 on BSE and Rs 44.20 on NSE registering over 5% growth while witnessing total trading of over 30 million shares during the day. Notably, the share has registered a return in excess of 40% since the declaration of Sep’2022 quarterly / half-yearly results outperforming the sectoral and broader indices.

Celebrating the price-rise at the Bank’s corporate headquarters, MD & CEO Baldev Prakash called it a big moment for the Bank and thanked all the stakeholders especially governments of twin UTs (J&K and Ladakh) for their continued support, Bank’s Board of Directors for their valued guidance and above all Bank’s valuable customers and clients for their unflinching trust and loyalty. All the Bank’s Vertical Heads, Divisional Heads, GMs,  DGMs, Zonal Heads, Cluster Heads attended the brief celebratory function through video-conferencing on the occasion.

While addressing the Bank’s staff on the occasion, MD & CEO said, “Our share has touched the 52-week high price with Bank’s market capitalization crossing the milestone of Rs 4000 Crore to make it a memorable day for all of us. I believe, it is the fructification of individual efforts that each one of you are putting in everyday to achieve the business goals of the Bank that includes improving the Asset quality by reducing NPAs and managing SMAs”, adding, “Riding on the back of healthier financial numbers, planned organisational transformation and improving work-culture; our market perception is on a rising curve with the value proposition being acknowledged by the market players. We must ensure that the scrip maintains the upward trend by delivering improved results on a sustained basis.”

“And I assure all the stakeholders that we won’t allow anything to impede our journey towards growth and glory”, MD asserted.

Besides expressing his pleasure on the enthusiastic participation and contribution of staff towards achieving the business goal of Rs 2.22 Lac Cr by the end of this fiscal, he further said, “Since our dreams and aspirations are associated with this institution, I am sure that we will continue to work together as a cohesive team to accomplish all the business goals through our tried and time-tested institutional resolve.”

On the occasion, expressing their faith in and appreciation for his strong leadership and prudent guidance, the participants congratulated MD & CEO Baldev Prakash for the Bank’s improving performance and perception. “Together, we have done it and together we shall accomplish all the organisational goals in future as well”, echoed the participants in unison.