Tamilnad Mercantile Bank trades jubilantly as its net profit rises 10% to Rs 287.29 in Q1FY25
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Tamilnad Mercantile Bank is currently trading at Rs. 476.55, up by 24.35 points or 5.42% from its previous closing of Rs. 452.05 on the BSE.
The scrip opened at Rs. 454.05 and has touched a high and low of Rs. 485.00 and Rs. 454.05 respectively. So far 128847 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 611.00 on 11-Sep-2023 and a 52 week low of Rs. 441.00 on 10-Aug-2023.
Last one week high and low of the scrip stood at Rs. 485.00 and Rs. 448.60 respectively. The current market cap of the company is Rs. 7529.61 crore.
The Institutions and Non-Institutions held 6.41% and 93.59% stake respectively in the company.
Tamilnad Mercantile Bank has reported 9.98% rise in net profit at Rs 287.29 crore for Q1FY25 as compared to Rs 261.23 crore for the same quarter in the previous year. Total income of the bank increased by 14.51% at Rs 1,514.87 crore for Q1FY25 as compared to Rs 1,322.89 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.
