J&K Bank trades in green on the bourses

Jammu & Kashmir Bank is currently trading at Rs. 47.00, up by 0.20 points or 0.43% from its previous closing of Rs. 46.80 on the BSE.

The scrip opened at Rs. 47.00 and has touched a high and low of Rs. 47.45 and Rs. 46.25 respectively.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 63.00 on 11-Jun-2018 and a 52 week low of Rs. 35.05 on 18-Dec-2018.

Last one week high and low of the scrip stood at Rs. 49.00 and Rs. 45.70 respectively. The current market cap of the company is Rs. 2606.10 crore.

The promoters holding in the company stood at 59.23%, while Institutions and Non-Institutions held 23.32% and 17.45% respectively.

Jammu & Kashmir Bank is planning sell its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund II for Rs 185 crore. The bank has executed share purchase agreement with Oman India Joint Investment Fund II for sale of 4.11 crore shares of PNB MetLife India Insurance company.

This would be subject to fulfillment of certain conditions precedent, which include requisite prior approval from the Insurance Regulatory and Development Authority of India. PNB MetLife India Insurance is a joint venture between MetLife International Holdings Inc, Punjab National Bank, Jammu and Kashmir Bank, M Pallonji and company and other private investors.

Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.

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