Jammu & Kashmir Bank fell 4.59% to Rs 163 at 15:21 IST on BSE on profit booking after the stock rose 18.39% in the preceding 12 trading sessions to Rs 170.85 on 5 September 2014, from a recent low of Rs 144.31 on 19 August 2014.
Meanwhile, the BSE Sensex was up 288.03 points, or 1.07%, to 27,314.73.
On BSE, so far 2.43 lakh shares were traded in the counter, compared with an average volume of 26,481 shares in the past one quarter.
The stock hit a high of Rs 172 and a low of Rs 162 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 108.34 on 17 September 2013.
The stock had outperformed the market over the past one month till 5 September 2014, rising 6.34% compared with 4.32% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.84% as against Sensex's 8.02% rise.
The mid-cap company has an equity capital of Rs 48.48 crore. Face value per share is Re 1.
Jammu & Kashmir Bank (J&K Bank)'s net profit fell 57.8% to Rs 130.05 crore on 10.6% increase in total income to Rs 1899 crore in Q1 June 2014 over Q1 June 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 30 June 2014).
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