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TAMILNAD MERCANTILE BANK Gains 6%; BSE BANKEX Index Down 1.9%
Mon, 5 Aug 9:48

TAMILNAD MERCANTILE BANK Gains 6%; BSE BANKEX Index Down 1.9%Image source: Chunumunu/www.istockphoto.com

TAMILNAD MERCANTILE BANK share price has zoomed 6% and is presently trading at Rs 478.8.

Meanwhile, the BSE BANKEX index is at 57,372.9 (down 1.9%).

Bank of Baroda (down 2.6%) and SBI (down 2.5%) are among the top losers today.

Over the last one year, TAMILNAD MERCANTILE BANK has moved up from Rs 451.7 to Rs 478.8, registering a gain of Rs 27.1 (up 6.0%).

On the other hand, the BSE BANKEX index has moved up from 51,331.3 to 57,372.9, registering a gain of 11.8% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 43.4%), SBI (up 35.2%) and Axis Bank (up 18.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,456.2 (down 1.9%).

The top losers among the BSE Sensex today are Tata Motors (down 4.2%) and JSW Steel (down 3.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,271.4 (down 1.8%). Tata Motors and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 79,456.2, registering a gain of 12,996.8 points (up 19.6%).

TAMILNAD MERCANTILE BANK Financial Update...

TAMILNAD MERCANTILE BANK net profit grew 10.0% YoY to Rs 2,873 million for the quarter ended June 2024, compared to a profit of Rs 2,612 million a year ago. Net sales rose 10.8% to Rs 12,812 million during the period as against Rs 11,559 million in April-June 2023.

For the year ended March 2023, TAMILNAD MERCANTILE BANK reported 25.2% increase in net profit to Rs 10,293 million compared to net profit of Rs 8,219 million during FY22. Revenue of the company grew 6.4% to Rs 40,810 million during FY23.

The current Price to earnings ratio of TAMILNAD MERCANTILE BANK, based on rolling 12 month earnings, stands at 6.9.


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