India's Jammu & Kashmir Bank hits near 9-yr high on institutional stake sale

Jammu And Kashmir Bank

12/12/2023 04:30

** Shares if India's Jammu & Kashmir Bank  JKBK.NS  rise as
much as 6.95% to 133.90 rupees, highest since Feb. 2015
    ** Co approved opening of stake sale to qualified
institutional buyers on Monday at a floor price of 112.66 rupees
per share
    ** Floor price represents a discount of 10% from JKBK's
close on Monday
    ** Co will decide on the stake sale price on Dec. 14
    ** JKBK up 141% vs 29% gains in Nifty public sector bank
index  .NIFTYPSU 

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))