Company Profile

Jammu & Kashmir Bank has entered into Corporate Agency agreement with New India Assurance Company. This is a MOU for servicing and soliciting the insurance products of New India Assurance Company through the branches of Jammu & Kashmir Bank. There are no rights to appoint directors, share subscription in case of issuance of shares and restrict any change in capital structure.

The Corporate Agency Agreement between New India Assurance Company & Jammu & Kashmir Bank will help in generating revenue for the bank from the sales of insurance policies. The expected benefit shall depend upon the amount of premium mobilized.

Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.

Jammu & Kashmir Bank is currently trading at Rs. 136.60, up by 0.45 points or 0.33% from its previous closing of Rs. 136.15 on the BSE.

The scrip opened at Rs. 137.00 and has touched a high and low of Rs. 137.00 and Rs. 134.45 respectively. So far 210341 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 152.45 on 09-Feb-2024 and a 52 week low of Rs. 53.05 on 19-May-2023.

Last one week high and low of the scrip stood at Rs. 137.00 and Rs. 129.20 respectively. The current market cap of the company is Rs. 14932.03 crore.

The promoters holding in the company stood at 59.40%, while Institutions and Non-Institutions held 14.88% and 25.72% respectively.

Jammu & Kashmir Bank has entered into Corporate Agency agreement with New India Assurance Company. This is a MOU for servicing and soliciting the insurance products of New India Assurance Company through the branches of Jammu & Kashmir Bank. There are no rights to appoint directors, share subscription in case of issuance of shares and restrict any change in capital structure.

The Corporate Agency Agreement between New India Assurance Company & Jammu & Kashmir Bank will help in generating revenue for the bank from the sales of insurance policies. The expected benefit shall depend upon the amount of premium mobilized.

Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.

Jammu and Kashmir Bank has informed that the Bank is a Scheduled Commercial Bank in terms of Second Schedule of the Reserve Bank of India Act, 1934. In view of the above, provisions of Chapter-XII of the Operational Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 are not applicable to the Bank.

The above information is a part of company’s filings submitted to BSE.

Quick Heal Technologies’ enterprise arm -- Seqrite has entered into a strategic partnership with M. Tech Solutions (India), appointing them as its Value-Added Distributor (VAD) for the Indian market. This collaboration aims to significantly expand Seqrite's presence in India and solidify its position further in the crucial Enterprise and Government segments.

Sunteck Realty (SRL) is expanding its annuity income business of its commercial portfolio as it enters a long term understanding/ agreement of its second premium commercial building at BKC Junction, Sunteck Icon, to Bennett, Coleman & Co.  The built-up area of Sunteck Icon is approximately 2 lakh square feet with an approximate rental of Rs 300 per Sq. Ft. per month on carpet area basis. This will allow the company to generate a revenue of close to Rs 2,000 crore over the tenure of 29 years.  

Mahindra & Mahindra Financial Services (Mahindra Finance) has reported overall disbursement at around Rs 6,100 crore in March 2024, delivering a 9% growth over March 2023. The Q4FY24 disbursements at about Rs 15,300 crore registered a growth of 11% Year-on-Year (Y-o-Y) and for the full year disbursement at around Rs 56,200 crore registered a growth of 13% Y-o-Y.

Jammu & Kashmir Bank has signed Corporate Agency Agreement with New India Assurance Company for servicing and soliciting their insurance products through its Branch Network. The said agreement shall be operational/effective from April 02, 2024.  

Colgate-Palmolive (India) has launched the renewed Colgate Active Salt, setting a new benchmark in oral hygiene solutions with an improved formula that tackles oral problems right at their inception. Since 2005, Colgate Active Salt has served the nation by addressing early oral concerns, leveraging the unique benefits of salt ingrained in Indian oral care traditions. It is also Colgate’s number 1 brand in Tamil Nadu. Building upon this legacy, the all new Colgate Active Salt introduces an improved and more potent formula to nip oral problems in the bud.

Maiden Forgings (MFL) is one of the leading manufacturers of wide range of Bright Steel bars and wires from past 35 years has successfully acquired land nearly double the size of its current facilities, spanning about 4 acres. This aims to combine two of its current facilities into one and promptly acquire additional machinery to increase its capacity. Presently, the company currently operates plants at three distinct locations within Ghaziabad city. The company intends to get the new manufacturing facility operational by October this year. Following the completion of the transaction within this year, the company aims to enhance its operational efficiencies, decrease costs, and lower its overall debt. MFL anticipates being completely free of gross debt by the end of the FY 2024-25 after finalizing the transaction. This transaction allows the company to significantly increase both its gross and net profit margins, while also enhancing its gross sales in the upcoming financial years.

EPACK Durable has received its 1st incentive under PLI Scheme for White Goods, from Government of India. The Company had made requisite investments as per terms of PLI approval, in the Target Segment of manufacturing of RAC Components during the Financial Year 2021-22 and subsequently, after audits and due diligence carried out by the nodal agencies appointed by the Government of India, the Company has received its 1st incentive of Rs 15 crore for the Financial year 2022-23, under the said Scheme.