Zooms nearly 50 percent in one month
SRINAGAR, SEP 08: In intraday trade on Friday, Jammu & Kashmir Bank reached a new high of Rs 104. 7, the stock’s highest value in the previous eight years.
J&K Bank’s stock is offering investors amazing returns because it returned 50% in just one month, demonstrating the business’s strong performance on the stock market. On Friday, J&K Bank shares began trading at Rs 101.15, reached a high of Rs 104.7, and ended the day at Rs 101.5.
Since August 2015, the J&K Bank shares have not risen to this level.
J&K Bank’s managing director, Baldev Prakash, stated that the bank is reaching new milestones. Employee effort allowed the bank to surpass its 3 lakh crore business goal and record its highest profit of Rs 1,197 crore in the previous fiscal year, the executive added.
After a seven-year hiatus, the bank distributed a dividend to stockholders this year.
MD said during the recently held Annual General Meeting of the Bank said, “Our transformational journey for the last few years has been quite eventful and happening. Bank has witnessed remarkable performance across the business parameters as reflected in our Annual Results for FY2022-23. And in recognition of this outstanding performance, I am delighted to announce that the Board of your Bank has recommended a dividend of Rs 0.50 per equity share of Re.1/- each fully paid for the financial year ended March 31, 2023.”
“This decision reflects our commitment to sustainable growth and maximizing shareholder value”, he added.
While acknowledging that the Bank’s success is intertwined with the success of its customers, he said that the Bank continues to invest in enhancing customer experience, streamlining processes, and offering innovative financial solutions to meet their evolving needs. “We are committed to staying at the forefront of digital banking, ensuring our customers have access to seamless and secure banking experiences.