Jammu & Kashmir Bank Ltd.:-

 

482 – 520 is a support zone , where we can invest and can accumulate more if touches 425. this stock has potential to double from mentioned level also. 240 is 52 week low .

stock is I over bought zone and may correct few points. Recommended for long term investment. Add in your portfolio. 

 

 

Detailed News	Jun-01-2009
Jammu & Kashmir Bank Board recommends Dividend
Jammu & Kashmir Bank Ltd has informed BSE that the Board of Directors of the Bank at its meeting held on May 31, 2009, inter alia, has recommended 169% Dividend (i.e. Sixteen rupees and ninety paisa per share) to shareholders for the year 2008-2009.

 

 

Jammu & Kashmir Bank Ltd. Chairman  : Haseeb A Drabu     Industry : Finance – Banks – Private Sector

ISIN No INE168A01017 52Week High 600 Book Value 555.03 Face Value 10.00 Bookclosure 19/07/2008 52Week Low 210 EPS 84.54 P/E 6.81 Market Cap. 2790.62 P/BV 1.04 Div Yield 0.00 Market Lot 1

You can view Balance Sheet for the last 5 years.

(Rs in Cr.)                 Mar ‘ 08  Mar ‘ 07  Mar ‘ 06  Mar ‘ 05  Mar ‘ 04              CAPITAL & LIABILITIES            Owners’ Fund            Equity Share Capital   48.49  48.49  48.49  48.49  48.25 Share Application Money   28.10  0.00  0.00  0.00  0.00 Peference Share Capital   0.00  0.00  0.00  0.00  0.00 Reserves & Surplus   2,232.34  1,960.24  1,750.98  1,616.91  1,545.49 Loan Funds            Deposits   28,593.26  25,194.29  23,484.64  21,644.97  18,661.38 Borrowings made by the bank   751.79  620.19  263.93  319.48  297.01 Other Liabilities & Provisions   1,102.02  823.31  900.94  850.30  653.63 Total   32,756.00  28,646.52  26,448.98  24,480.15  21,205.76             ASSETS            Cash & Balances with RBI   3,219.97  1,854.77  937.88  1,675.89  1,534.60             Money at call and Short Notice   1,217.27  1,758.99  1,349.53  1,502.38  1,382.16             Investments   8,757.66  7,392.19  9,002.34  9,089.23  8,451.10             Advances   18,882.61  17,079.94  14,483.11  11,517.14  9,284.94             Fixed Assets            Gross Block   471.32  433.63  412.23  381.45  331.66 Less: Revaluation Reserve   0.00  0.00  0.00  0.00  0.00 Less: Accumulated Depreciation   289.10  256.94  223.80  184.88  141.46 Net Block   182.22  176.69  188.42  196.57  190.20 Capital Work-in-progress   9.79  6.76  6.29  5.83  5.87             Other Assets   486.47  377.19  481.41  493.12  356.89             Miscellaneous Expenses not written off   0.00  0.00  0.00  0.00  0.00 Total   32,755.99  28,646.53  26,448.98  24,480.16  21,205.76 Note            Contingent liabilities   11,892.97  3,840.87  5,350.32  4,917.22  4,016.89 Book Value of Unqouted Investment   0.00  0.00  0.00  0.00  0.00 Market Value of Qouted Investment   0.00  0.00  0.00  0.00  0.00

 

 

History of the company :-

 

YEAR                                                         EVENTS
1938 - The Jammu & Kashmir Bank Ltd was incorporated in 1938 to extend
              banking facilities in Jammu & Kashmir. 
            - The bank was constituted as a government company under Companies
               Act, 1956 and is functioning as bankers to the state government. 

1993 – The Bank tied up with Reuter News Agency for instantaneous information about global foreign currency rates and fluctuations thereof.

1994 – The Bank tied up with Reuter News Agency for instantaneous information about global foreign currency rates and fluctuations thereof.

1995 – Banking Ombudsman Scheme was launched in June, with a view to provide quick and inexpensive facility to resolve the grievances of banks’ customers.

          - A loan delivery system was introduced in April, to instil
            discipline in the utilization of bank credit especially by
            large borrowers.

1998 – Jammu and Kashmir Bank Ltd (J&K Bank) is coming out with a public issue of 1,85,00,000 equity shares of Rs.10 each for cash at a premium of Rs.28 per share aggregating Rs.70.30 crore.

           - A recovery drive was launched which included settlement of long
             outstanding loan accounts of chronic defaulters by outside court
             compromises.
           - Bank introduced a new term deposit scheme under the title "Jana
             Priya Jamma Yojna" carrying flexibility in the repayment
             schedule. 

- Housing Loan and Education Loan Schemes for general public have been introduced during the current financial year.

1999 – The bank entered into an agreement with IBA to connect its ATMs through a shared network.

2000 – Jammu and Kashmir Bank has tied up with Infosys Technologies to offer internet banking and for its e-commerce initiatives.

           - Jammu and Kashmir Bank is in talks with two foreign insurance
             companies for a joint venture for its insurance subsidiary to be
             floated by the year end.

- Jammu and Kashmir Bank Ltd, the Srinagar-based listed bank in the country, tied up with Infosys Technologies Ltd.

- Jammu and Kashmir Bank has tied up with American Express to launch a co-branded credit card. The J&K Bank American Express Credit card offers high value features including global validity, balance transfer facility, membership rewards and emergency cash.

- The Bank will broaden its areas of diversification by getting into non-life insurance and depository business, apart from life Insurance and asset management business following the recommendations of pricewaterhouse Coopers .

2001 – The Bank has launched J&K Bank – AMEX Co. Branded Credit Card pursuant to agreement entered with American Express Bank.

           - The Bank has tied up with the US-based insurance giant, Metlife, for the proposed foray
              in the insurance sector.

 

 

Support and Resistance:

Resistance (Swing High) Support (Swing Low) Weekly high Weekly low Monthly high Monthly low

510 450 508 450 512 423

Fibonacci price projections:

	0%	61.8%	100%	161.8%	261.8%
Up	450	487	510	547	607
Dn	510	473	450	413	353

 

 

DISCLAIMER :- We can’t dictate the market. Its an observation only. May , may not hold good. Much depend on govt. policies ,economic & political scenario. Its more of an informatics’ article only. Presenter /writer is not liable or responsible for any personal or financial losses or profits