Jammu & Kashmir Bank is in the limelight today; the stock which had closed at Rs.1569.75, it opened today at Rs.1575 and hit an intra day high at Rs.1614.

The stock is up on news that the company is exploring options of selling its 5% stake in PNB MetLife India Insurance Company. And it is said to be looking for a valuation of about Rs 700 crore.

PNB MetLife is a JV between MetLife International, PNB, J&K Bank, M.Pallonji and Company Pvt Ltd and some other private investors.