Stock market analyst Aunali Rupani of ARM Research has maintained 'buy' rating on Jammu & Kashmir Bank Limited stock to achieve a target of Rs 1000.

According to analyst, the said target can be achieved with a period of 12 months.

Today, the stock of the bank opened at Rs 324.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 916 and a low of Rs 555 on BSE.

Current EPS & P/E ratio stood at 111.28 and 6.98 respectively.

Jammu & Kashmir (J&K) Bank declared the central banking institution (RBI) vide letter has given nod to the appointment of Mushtaq Ahmad as chairman & chief executive officer (CEO) for three years.

Moreover, the bank has given dividend cheque of Rs 56.70 crore to the state administration, which happens to be the bank's biggest stockholder.

Bank's Chairman and CEO gave the dividend cheque to state minister Omar Abdullah.

Recently, J&K Bank announced an increase of 24.18% in its standalone net profit on y-o-y basis to Rs 1.45 billion for April-June period of 2010.

The bank's total income grew by 7.67% y-o-y basis to Rs 9.59 billion for the three month period ended June 2010.