Jammu & Kashmir Bank shares in focus as ace investor Mukul Agrawal buys 1.3% stake in June quarter
ADVERTISEMENT Jammu & Kashmir Bank shares have outperformed the broader banking sector, delivering nearly 5% returns over the past year, compared to a 3% decline in the Nifty PSU Bank index. The bank's performance has been largely in line with the Nifty during the same period.
On Monday, the bank released its Q1FY26 business update, reporting a 9.5% year-on-year growth in total business to Rs 2,49,784.15 crore.
Total deposits jumped 12% YoY to Rs 1,48,542.07 crore while total advances grew 5.5% YoY to Rs 1,040,39.84 in the quarter under review.
Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70%
In the fourth quarter, Jammu & Kashmir Bank reported a 9% YoY decline in net profit to Rs 585 crore, compared to Rs 640 crore a year ago, mainly due to higher provisions for bad debt. However, pre-provision operating profit rose 20.5% to Rs 800 crore, up from Rs 664 crore in the same period last year.
ADVERTISEMENT Provisions stood at Rs 58 crore, compared with a write-back of Rs 47.4 crore in the year-ago quarter, despite an improvement in asset quality. The gross non-performing assets (GNPA) ratio improved to 3.37%, down from 4.08% at the end of the previous fiscal year.
The board has recommended a dividend of Rs 2.15 per equity share (face value Re 1), translating to a 215% dividend payout for the financial year ended March 31, 2025.
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Also Read: 10 Nifty smallcap stocks analysts expect to rally up to 72%According to Trendlyne data, Mukul Agrawal publicly holds 60 stocks with a net worth of over Rs 6,618.7 crore. His portfolio includes names like Ajmera Realty, CEAT, Allcargo Logistics, LT Foods, Deepak Fertilisers, Delta Corp, Dredging Corporation of India, De Nora, Indo Count, and J Kumar Infraprojects, among others.
ADVERTISEMENT On Monday, Jammu & Kashmir Bank shares closed at Rs 111.25 on the BSE, down Rs 3 or 2.63%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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