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Tamilnad Mercantile Bank is currently trading at Rs. 444.60, up by 5.55 points or 1.26% from its previous closing of Rs. 439.05 on the BSE.

The scrip opened at Rs. 439.05 and has touched a high and low of Rs. 450.00 and Rs. 439.05 respectively. So far 1749 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 547.85 on 01-Dec-2022 and a 52 week low of Rs. 396.05 on 12-Apr-2023.

Last one week high and low of the scrip stood at Rs. 450.10 and Rs. 419.00 respectively. The current market cap of the company is Rs. 7046.64 crore.

The Institutions holding in the company stood at 5.15%, while Non-Institutions held 94.85% in the company.  

Tamilnad Mercantile Bank has reported 11.54% rise in its net profit at Rs 261.23 crore for first quarter ended June 30, 2023 as compared to Rs 234.21 crore for the same quarter in the previous year. However, total income of the bank increased by 15.86% at Rs 1,322.89 crore for Q1FY24 as compared Rs 1,141.77 crore for the corresponding quarter previous year.

Tamilnad Mercantile Bank is one of the oldest private sector banks in the country, with a history of almost 100 years. It offers a wide range of banking and financial services primarily to Micro, Small and Medium Enterprises (MSME), agricultural and retail customers.