 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
Jammu & Kashmir (J&K) Bank has slipped 7% to Rs 54.60, also its 52-week low on BSE in intra-day trade.
On the National Stock Exchange (NSE), the stock hit an intra-day low of Rs 57.45, a 2% away from its 52-week low of Rs 56.20 touched on April this year.
At 09:58 am, the stock was trading at Rs 58.10 on the NSE and BSE, erasing early morning fall. A combined 100,722 shares changed hands on the counter on both the exchanges.
In past one-month, the stock underperformed the market by falling 15%, against 8% decline in the S&P BSE Sensex and 7% fall in the banking index S&P BSE Bankex.
J&K Bank rescheduled its September quarter results to November 12, from November 9, said that the bank has approached Reserve Bank of India (RBI) for a special dispensation addressing the concern of temporary asset impairment due to prevailing political unrest in Kashmir Valley.
“The approval for the said request made to RBI is still awaited, pending which the Bank has not been able to finalize Bank’s financials for the period under review,” J&K Bank said in a regulatory filing on November 11.
The Bank has hence requested the Securities and Exchange Board of India (SEBI) for grant of extension in the stipulated 45 days timeline for submission of reviewed financial results till November 30th, 2016 and waiver of penalty for delay in submission beyond stipulation, it added.
On the National Stock Exchange (NSE), the stock hit an intra-day low of Rs 57.45, a 2% away from its 52-week low of Rs 56.20 touched on April this year.
At 09:58 am, the stock was trading at Rs 58.10 on the NSE and BSE, erasing early morning fall. A combined 100,722 shares changed hands on the counter on both the exchanges.
In past one-month, the stock underperformed the market by falling 15%, against 8% decline in the S&P BSE Sensex and 7% fall in the banking index S&P BSE Bankex.
J&K Bank rescheduled its September quarter results to November 12, from November 9, said that the bank has approached Reserve Bank of India (RBI) for a special dispensation addressing the concern of temporary asset impairment due to prevailing political unrest in Kashmir Valley.
“The approval for the said request made to RBI is still awaited, pending which the Bank has not been able to finalize Bank’s financials for the period under review,” J&K Bank said in a regulatory filing on November 11.
The Bank has hence requested the Securities and Exchange Board of India (SEBI) for grant of extension in the stipulated 45 days timeline for submission of reviewed financial results till November 30th, 2016 and waiver of penalty for delay in submission beyond stipulation, it added.
