Mid Cap 01 Feb 2012, 04:49 PM
Jammu & Kashmir Bank Ltd.
CLSA
|
Price when Post 814.6 |
Target Price 980 |
Return 20.3044% |
For full report |
CLSA upgrades target on J&K Bank
Target price increased to 980 from 860 earlier. Healthy growth in CASA (current account savings account) deposits helped sustain high net interest margins. Asset quality remains robust with just 8 per cent year on year growth in gross NPLs (non-performing loans). Decline in restructured loans also encouraging. Valuations may remain at discount due to higher concentration of operations.