Tamilnad Mercantile Bank Shares Hit Record High After Q1 Results
Author: CNBC-TV18 Markets·
Key Takeaways
- •Tamilnad Mercantile Bank shares surged 11.2% to an intraday record of ₹898.7 after the first-quarter results were reported.
- •The stock was last seen 10% higher at ₹884.05.
- •The shares have gained 70% this year and are now 75% above the issue price of ₹510 per share.
- •Quarterly earnings remain an important gauge for investor sentiment around smaller lenders.
Tamilnad Mercantile Bank shares rose 11.2% on Monday to touch an all-time high of ₹898.7 apiece after the lender reported its first-quarter results.
At the last check, the stock was still trading 10% higher at ₹884.05. The counter has gained 70% so far this year and is now up 75% from its issue price of ₹510 per share, underscoring how closely investors are tracking the bank's post-listing performance as quarterly earnings continue to serve as a key checkpoint for sentiment around smaller lenders.