InvestorQ : I have a small investment in shares of J&K Bank and was surprised to see the stock correcting by 20%. What is the problem with the stock?
ishika Banerjee made post

I have a small investment in shares of J&K Bank and was surprised to see the stock correcting by 20%. What is the problem with the stock?

Answer
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Niti Shenoi answered.
1 year ago


The sharp fall in the stock price of J&K Bank was more a reaction to the sudden removal of the chairman of the Bank, Mr. Parvez Ahmed. That was the reason the stock touched lower circuit on the BSE. In fact, the anti corruption bureau (ACB) even conducted a raid at the corporate office of J&K Bank related to some fraudulent appointments made during the tenure of Mr. Ahmed. The decision was taken in accordance with the guidelines issued by the Reserve Bank of India.