India's Jammu & Kashmir Bank recovers after falling on report over ED raids

Jammu And Kashmir Bank

30/11/2023 08:17

(Updates shares, adds company response)
    ** Shares of India's Jammu & Kashmir Bank  JKBK.NS  recovers
 after falling as much as 2.7% to 107.20 rupees, its steepest
intraday drop in over a month 
    ** Earlier in the day, local media said country's financial
crime-fighting agency has conducted raids in six locations in
Srinagar in connection to a money laundering case for more than
2.50 billion rupees ($30 million) 
    ** Company's name misquoted in media report regarding ED
raids, JKBK told Reuters in emailed response 
    ** Stock last up 0.1%, YTD gains at ~91%

($1 = 83.3440 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))