Ambareesh Baliga of Edelweiss Financial Services told CNBC-TV18, “In banking space, Jammu and Kashmir Bank has been showing extremely good results quarter-on-quarter (Q-o-Q). Even the last quarter we saw a 20 percent growth and close to about 23 percent growth in net interest income (NII).”
“We expect approximately about 12 percent compounded annual growth rate (CAGR) over the next three years and with adjusted book value of just about one time, I suppose at these levels, it is extremely great buy. In fact, we have a price target of about Rs 1,738 which is about Rs 500 higher than where it is right now,” Baliga said.
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