Jammu & Kashmir Bank rose 5.15% to Rs 117.30 at 11:20 IST on BSE on bargain hunting after the stock slumped 29.64% in the preceding eight trading sessions.
Meanwhile, the BSE Sensex was up 330.88 points, or 1.17%, to 28,558.27.
On BSE, so far 3.13 lakh shares were traded in the counter, compared with an average volume of 1.34 lakh shares in the past one quarter.
The stock hit a high of Rs 117.90 and a low of Rs 105.90 so far during the day. The stock hit a record high of Rs 199.50 on 16 May 2014. The stock hit a 52-week low of Rs 105.90 on 10 February 2015.
Shares of Jammu & Kashmir Bank (J&K Bank) slumped 29.64% in the preceding eight trading sessions to Rs 111.55 on 9 February 2015, from a recent high of Rs 158.55 on 28 January 2015.
The stock had underperformed the market over the past one month till 9 February 2015, falling 24.37% compared with 2.80% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.44% as against Sensex's 1.29% rise.
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The mid-cap company has an equity capital of Rs 48.48 crore. Face value per share is Re 1.
J&K Bank's net profit fell 67.43% to Rs 104.64 crore on 2.58% increase in total income to Rs 1849.44 crore in Q3 December 2014 over Q3 December 2013.
The result was announced on Saturday, 7 February 2015. Shares of J&K Bank slumped 17.52% to Rs 111.55 on Monday, 9 February 2015.
Ratio of net non-performing assets (NPAs) to net advances stood at 3.22% as on 31 December 2014, compared with 2.46% as on 30 September 2014 and 0.22% as on 31 December 2013.
The bank's ratio of gross NPAs to gross advances stood at 5.81% as on 31 December 2014, compared with 4.73% as on 30 September 2014 and 1.65% as on 31 December 2013.
Provisions and contingencies were reported at Rs 220.39 crore in Q3 December 2014. The bank had written back provisions worth Rs 4.60 crore in Q3 December 2013. The provisioning coverage ratio as on 31 December 2014 stood at 51%.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 12.78% as on 31 December 2014, compared with 12.66% as on 30 September 2014 and 13.01% as on 31 December 2013.
J&K Bank functions as a universal bank in J&K and as a specialised bank in the rest of the country. The J&K state government holds 53.17% stake in J&K Bank (as per the shareholding pattern as on 31 December 2014).
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