Tamilnad Mercantile Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

Trident Ltd, NMDC Steel Ltd, Capri Global Capital Ltd, Nuvoco Vistas Corporation Ltd are among the other stocks to see a surge in volumes on NSE today, 21 August 2023.

Tamilnad Mercantile Bank Ltd clocked volume of 38.74 lakh shares by 14:14 IST on NSE, a 14.06 times surge over two-week average daily volume of 2.76 lakh shares. The stock gained 15.65% to Rs.560.00. Volumes stood at 3.56 lakh shares in the last session.

Trident Ltd recorded volume of 881.73 lakh shares by 14:14 IST on NSE, a 10.24 times surge over two-week average daily volume of 86.12 lakh shares. The stock gained 9.57% to Rs.35.50. Volumes stood at 63.05 lakh shares in the last session.

NMDC Steel Ltd recorded volume of 412.12 lakh shares by 14:14 IST on NSE, a 9.57 times surge over two-week average daily volume of 43.06 lakh shares. The stock gained 11.19% to Rs.51.65. Volumes stood at 50.49 lakh shares in the last session.

Capri Global Capital Ltd clocked volume of 11.78 lakh shares by 14:14 IST on NSE, a 9.57 times surge over two-week average daily volume of 1.23 lakh shares. The stock gained 4.22% to Rs.778.00. Volumes stood at 1.41 lakh shares in the last session.

Nuvoco Vistas Corporation Ltd registered volume of 11.85 lakh shares by 14:14 IST on NSE, a 8.37 fold spurt over two-week average daily volume of 1.42 lakh shares. The stock rose 3.69% to Rs.342.50. Volumes stood at 2.32 lakh shares in the last session.

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Tamilnad Mercantile Bank announced that the Annual General Meeting (AGM) of the bank will be held on 5 September 2023.

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Tamilnad Mercantile Bank announced that B.S.Keshava Murthy (DIN: 06965816) vide his letter dated 30 July 2023, has tendered his resignation as Independent Director of the Bank citing personal reason with effect from 30 July 2023.

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Net interest income increased by 15.37% year on year (YoY) to Rs 1,156 crore in the quarter ended 30 June 2023.

Operating profit rose 1.47% to Rs 379.90 crore in Q1 FY24 from Rs 374.40 crore posted in Q4 FY22.

On the asset quality front, gross non-performing assets (NPAs) amounted to Rs 580.72 crore as of 30 June 2023 as against Rs 572.15 crore as on 30 June 2022 and Rs 521.46 crore as on 31 March 2023.

Gross NPA ratio was 1.56% as of 30 June 2023 as against 1.69% as on 30 June 2022. Net NPA ratio was 0.66% as of 30 June 2023 as against 0.93% as on 30 June 2022

Provision coverage ratio (PCR) stood at 90.49% as of 30 June 2023 as against 88.08% as of 30 June 2022.

Deposits of the bank stood at Rs 47,008 crore as of 30 June 2023, recording a growth of 8.73% YoY. Total advances of the bank stood at Rs 37,292 crore as of 30 June 2023, up by 10.26% YoY.

CRAR stood at 26.57% as at 30 June 2023 as against 21.67% as of 30 June 2022. Out of total CRAR, CET-1 was 24.94%.

The bank said that it has opened 6 branches during the Q1FY24.

Tamilnad Mercantile Bank is one of the renowned old private sector banks. TMB has a pan India presence with 536 branches, 1,149 ATMs and 324 CRMs.

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