SRINAGAR: Shares of Jammu and Kashmir Bank on Thursday hit the highest level in the last eight years, gaining over 12 per cent from Wednesday's closing price.

During the intraday trade, the bank's stock touched a high of Rs 103.50 before settling at Rs 100.80 apiece on the NSE. It is the highest level the J&K Bank shares have attained since August 2015.

Baldev Prakash, Managing Director of J&K Bank, said that the bank is achieving new milestones. With the hard work of employees, the bank registered the highest profit of Rs 1,197 crore in the previous fiscal and also crossed the 3 lakh crore business target, he said.

The bank has given a dividend to shareholders this year after a gap of seven years.