Jammu and Kashmir Bank Ltd gained for a third straight session today. The stock is quoting at Rs 36.1, up 1.55% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.44% on the day, quoting at 11106.15. The Sensex is at 37628.39, up 0.36%. Jammu and Kashmir Bank Ltd has slipped around 3.48% in last one month.

Meanwhile, Nifty PSU Bank index of which Jammu and Kashmir Bank Ltd is a constituent, has slipped around 10.56% in last one month and is currently quoting at 2488.45, up 2.39% on the day. The volume in the stock stood at 4.51 lakh shares today, compared to the daily average of 13.84 lakh shares in last one month.

The PE of the stock is 4.57 based on TTM earnings ending June 19.

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Meanwhile, the S&P BSE Sensex was up 286.77 points or 0.77% to 37,637.10.

On the BSE, 52,000 shares were traded in the counter so far compared with average daily volumes of 3.58 lakh shares in the past two weeks. The stock hit a high of Rs 37.2 and a low of Rs 36.3 so far during the day.

The stock hit a 52-week high of Rs 65.95 on 10 Apr 2019. The stock hit a 52-week low of Rs 32.25 on 06 Aug 2019.

As per reports, the case has been registered in a bank-loan fraud worth Rs 350 crore, and searches have been conducted at the Bengaluru office of the bank.

The ACB has reportedly said that the management at the corporate headquarters/zonal office, Bengaluru, and officers/officials of J&K Bank, Infantry Road Branch, Bengaluru, had given loans worth crores of rupees to Rawther Spices by passing all norms and procedures.

The ACB investigation and verification procedures have reportedly found that Rawther Spices was established in 1985 and was dealing in import and export of spices and coffee. In 2002, the company was sanctioned a loan of Rs 2 crore against collateral security of three properties valued at Rs 10 crore by J&K Bank. Since 2012, the limits of different types of loans had been increased by the bank significantly and the total loan amount has risen up to Rs 308.13 crore in 2015 against increased mortgage/security value to Rs 147.43 crore.

Jammu & Kashmir Bank (J&K Bank)'s net profit declined 58.4% to Rs 21.87 crore on 18.9% rise in total income to Rs 2256.25 crore in Q1 June 2019 over Q1 June 2018.

J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country.

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Jammu and Kashmir Bank Ltd fell 2.78% today to trade at Rs 36.75. The S&P BSE PSU index is down 0.02% to quote at 6543.04. The index is down 10.78 % over last one month. Among the other constituents of the index, Power Grid Corporation of India Ltd decreased 1.02% and Chennai Petroleum Corporation Ltd lost 0.95% on the day. The S&P BSE PSU index went down 15 % over last one year compared to the 1.24% fall in benchmark SENSEX.

Jammu and Kashmir Bank Ltd has lost 2.52% over last one month compared to 10.78% fall in S&P BSE PSU index and 2.24% drop in the SENSEX. On the BSE, 21752 shares were traded in the counter so far compared with average daily volumes of 1.73 lakh shares in the past one month. The stock hit a record high of Rs 65.95 on 10 Apr 2019. The stock hit a 52-week low of Rs 32.25 on 06 Aug 2019.

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Max India Ltd, Siemens Ltd, Motilal Oswal Financial Services Ltd, Advanced Enzyme Technologies Ltd are among the other stocks to see a surge in volumes on NSE today, 08 August 2019.

Jammu and Kashmir Bank Ltd recorded volume of 76.25 lakh shares by 14:19 IST on NSE, a 10.03 times surge over two-week average daily volume of 7.60 lakh shares. The stock lost 2.34% to Rs.43.75. Volumes stood at 27.62 lakh shares in the last session.

Max India Ltd registered volume of 4.85 lakh shares by 14:19 IST on NSE, a 6.48 fold spurt over two-week average daily volume of 74923 shares. The stock rose 0.82% to Rs.61.50. Volumes stood at 47163 shares in the last session.

Siemens Ltd notched up volume of 21.08 lakh shares by 14:19 IST on NSE, a 6.12 fold spurt over two-week average daily volume of 3.44 lakh shares. The stock rose 3.77% to Rs.1,143.00. Volumes stood at 3.46 lakh shares in the last session.

Motilal Oswal Financial Services Ltd witnessed volume of 3.47 lakh shares by 14:19 IST on NSE, a 5.19 times surge over two-week average daily volume of 66774 shares. The stock increased 0.28% to Rs.500.15. Volumes stood at 19195 shares in the last session.

Advanced Enzyme Technologies Ltd notched up volume of 1.56 lakh shares by 14:19 IST on NSE, a 4.62 fold spurt over two-week average daily volume of 33839 shares. The stock rose 1.30% to Rs.155.35. Volumes stood at 26459 shares in the last session.

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