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News Topical, Digital Desk : Veteran investor of domestic stock market Mukul Agarwal has invested in another bank. He has made this investment in the shares of private sector bank Jammu Kashmir Bank. The bank has updated the latest shareholding pattern on Monday, July 7, in which Mukul Agarwal's name is also included. Apart from this, another veteran investor Sanjeev Arora has also invested in this stock. However, Arora already has an investment in this bank.
Apart from the shareholding pattern, the bank has also released business updates for the April-June quarter on Monday. Let us tell you that after the day's work on Monday, the share of Jammu Kashmir Bank fell by 2.6% and closed at Rs 111.22 per share.
First of all, let's know the business updates of the bank...
- The bank said in an exchange filing that the business during the June quarter was Rs 2,49,784.15 crore. This figure was Rs 2,28,022.90 crore in the same quarter of the previous financial year. It has shown a growth of 9.5% on an annual basis.
- Talking about the total deposits, it has also increased from Rs 1,32,573.13 crore to Rs 1,48,542.07 crore as compared to the June quarter of last year. It
has seen a growth of 12.05% on a year-on-year basis. - The bank's CASA deposits have also shown a growth of 2.91%. In the June quarter of the last financial year, it was Rs 56980.96 crore, which has now increased to Rs 67900.54 crore.
- CASA ratio declined by 406 basis points to 45.71% compared to 49.77%.
- Talking about gross advances, it has seen a decline of 5.54% on an annual basis and it has increased from Rs 98579.79 to Rs 104039.84 crores.
- The bank said that the gross investment amount has increased from Rs 33955.15 crore to Rs 43310.58 crore. It has seen a growth of 27.55% on year-on-year basis.
Now let's talk about Mukul Agarwal's stake... The latest shareholding pattern of the bank shows that Mukul Agarwal has 1.27% stake in the June quarter. Agarwal has 1,40,00,000 shares of this bank. Before this, i.e. in the March quarter's shareholding pattern, Mukul Agarwal's name was not there. Let us tell you that it is mandatory for all the companies listed in the stock market to give the names of those investors in their shareholding pattern in which they have more than 1% stake.
Apart from this, Sanjeev Arora holds 1,34,38,226 shares or 1.22% stake in this stock. Sanjeev Arora's name was also in the shareholding pattern of this bank during the March quarter.
An eye on Jammu Kashmir Bank stock
Jammu Kashmir Bank stock has seen a gain of about 3.8% during the last one month. During the last 6 months, this stock has seen a gain of about 14%. No special action has been seen in the stocks during the last one year. This banking stock with a market capitalization of about Rs 12.25 thousand crore has a 52-week high of Rs 123.70 per share and a 52-week low of Rs 86.61 per share.
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