Jammu & Kashmir Bank shares down 2.5% as Nifty drops 30 points

MUMBAI, Mar 20 (Agencies): Shares of Jammu & Kashmir Bank traded 2.5 per cent down in Friday ‘s trade at 09:39 am. Around 201963 shares changed hands on the counter. The stock opened at Rs 14.2 and touched an intraday high and low of Rs 14.3 and Rs 13.0 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 65.75 and a 52-week low of Rs 13.2 .
Markets regulator Sebi has exempted Jammu and Kashmir government from making an open offer to shareholders of Jammu

& Kashmir Bank following proposed equity infusion that would hike its stake in the lender by 8.95 per cent.
Financials
Jammu & Kashmir Bank Ltd., incorporated in the year 1938, is a banking company (having a market cap of Rs 782.39 Crore).
The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 7711.60 Crore and Net Non Performing Assets (Net NPAs) of Rs 2810.32 Crore.
Jammu & Kashmir Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 5935.24 Crore to Sales Value (77.32 % of Total Sales), Income From Investment which contributed Rs 1551.99 Crore to Sales Value (20.21 % of Total Sales) and Interest which contributed Rs 28.54 Crore to Sales Value (0.37 % of Total Sales)for the year ending 31-Mar-2019.
Promoters holding
Promoters held 59.23104 per cent stake in the company as of Dec 2019 . For the quarter ended Dec 2019 , the company reported a net sales of Rs 1591.91 crore and net profit of Rs 49.06 crore.
Valuation ratio
It quoted a price-to-earnings ratio of -1.23 and price to book value of 0.12.

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