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  1. 100% gains in stock market! This mid-cap bank share may double your money, available for below Rs 50

100% gains in stock market! This mid-cap bank share may double your money, available for below Rs 50

Indian stock markets are hovering near record highs with the benchmark Sensex index nearing 37,000-mark while NSE Nifty was just 100 points away from breaching its previous all-time high. We take a look at a mid-cap bank share below Rs 50 that may double your money in the stock market.

By: | Updated: July 13, 2018 4:26 PM
A mid-cap private bank share which may double your money. (Image: PTI)

Indian stock markets are hovering near record highs with the benchmark Sensex index nearing 37,000-mark while NSE Nifty was just 100 points away from breaching its previous all-time high. The domestic markets have been broadly rising since last two weeks, during which BSE Sensex has appreciated by more than 4% following the steep uptick in the shares of heavyweight companies such as TCS and Reliance Industries. Even today, the S&P BSE Sensex surged 191.66 points to hit a fresh all-time high of 36,740.07 whereas NSE Nifty made a day’s high of 11,071.35, up by 48.15 points.

However, on a broader stretch, most of the mid-caps and small-caps have seen considerable value erosion in the recent past as the benchmark indices Nifty Next 50 has lost over 8% to 26,367.2 from a level of 30,964.65 as on 29 December 2017. Other broader market indices such as Nifty Midcap 50 has slid 12% and Nifty 500 has declined by nearly 3% in the last six months. A mid-cap private bank share which may double your money. Interestingly, this share is available for below Rs 50.

Mid-cap bank share that may double your money in the stock market

Shares of Srinagar-based The Jammu & Kashmir Bank Ltd have dropped about 15% in the last one month to Rs 49.65 from a share price level of Rs 59 as on 13 June 2018. The domestic research and brokerage firm Motilal Oswal Securities has given a ‘buy’ with a target price of Rs 100 which implies a potential upside of 100% from the current market price.

Check the stock market details: The Jammu & Kashmir Bank Ltd

Shares of Jammu & Kashmir Bank are categorised in the ‘A’ group on BSE and is a part of S&P BSE 500 index. Jammu & Kashmir Bank has a stock market value of Rs 2,770 crore on BSE on the basis of the share price of Rs 49.75.

Disclaimer: Views and recommendations given in this section are the brokerage firms’ own and do not represent those of www.financialexpress.com. Please consult your financial adviser before taking any position in the stock/s mentioned.

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