Mukul Agrawal Buys 25 Lakh J&K Bank Shares as Stock Jumps 28%
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- Mukul Agrawal raised his stake in Jammu & Kashmir Bank by 0.23 percentage points in the March quarter, now holding 1.65 crore shares (1.5%) versus 1.4 crore shares (1.27%) at the end of December 2025 — an increase of roughly 25 lakh shares.
- Jammu & Kashmir Bank has delivered about 28% returns in CY26, sharply outperforming major peers including HDFC and ICICI, which corrected during the same period.
- The bank reported a Q3 net profit of Rs 587 crore, up 10% year-on-year and 19% sequentially, with nine-month FY26 net profit at Rs 1,566 crore (up 4% YoY), putting it on track for a fourth straight year of record annual profitability.
- Gross advances grew 17% year-on-year to Rs 1.16 lakh crore and deposits rose 11% YoY to Rs 1.55 lakh crore as of December 2025, with overall business crossing Rs 2.9 lakh crore.
- Asset quality strengthened, with gross NPA at 3% and net NPA improving to 0.68%, while the provision coverage ratio held above 90%.
- Net interest income rose 4% and other income grew 15% YoY in Q3, aided by a fall in the cost of deposits to 4.69% from 4.86% the prior quarter.
Why it matters: Agrawal's increased bet comes at a moment when J&K Bank's 28% CY26 rally and improving NPA metrics contrast with weakness in larger private peers, giving his purchase a contrarian read. The combination of double-digit loan growth, falling deposit costs, and 90%+ provision coverage makes the bank a notable outperformer in a sector where most lenders have lost ground.
