J&K Bank is another of the Banks that have risen faster than the India’s private rocket. Today it has ended at 46. To apply my today’s learning to it, the price to book value makes it an attractive investment. The Book Value is 85.6. Its one year journey shows that the share has seen quite a few ups and downs.
The screenshot shows that the Bank is trying to solve the tricky issue of NPAs.
The quarterly results for the quarter ending September are also good. Total income during the quarter rose to Rs 2,444.59 crore from Rs 2,184.20 crore a year ago. the bank reported a 119.31 per cent year-on-year (YoY) surge in profit after tax (PAT) at Rs 243.64 crore in the September quarter compared with Rs 111.09 crore in the corresponding quarter last year. Interest income grew 15.5 per cent to Rs 2,298.85 crore during the quarter.
NPAs at 7.67 % in the September quarter compared with 9.09% in June and 8.95 per cent in the year ago quarter.
J&K Bank has definitely made strides.
No recommendation.
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