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Tamilnad Mercantile Bank Ltd

Tamilnad Mercantile Bank Ltd Share Price (TMB)

₹482.2▲0.01%

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Overview

Fundamentals

Q3 '23 Results

Technicals

News and Events

Tamilnad Mercantile Bank Ltd share Performance

₹477
₹485.55
₹482.2
1.08%
Low
Day's Volatility:1.77%
High
0.69%
₹401.15
₹611.35
₹482.2
16.81%
Low
52 Weeks Volatility:43.59%
High
26.78%

Returns %
1 Month Return	3.84 %
3 Month Return	-4.26 %
1 Year Return	18.89 %

Market Stats
Previous Close	₹482.15
Open	₹484.90
Volume	75.93K
Upper Circuit	-
Lower Circuit	-
Market Cap	₹7,634.92Cr

Company Information

Tamilnad Mercantile Bank Limited is one of the oldest banks in India, incorporated in 1921 with a certificate of incorporation issued by the erstwhile Assistant Registrar of Joint Stock Palamcottah. It started its rural operations in 1968 by opening a rural branch in Vilathikulam, Tamil Nadu, and obtained the banking license from the Reserve Bank of India (RBI) in 1962. Over the years, the bank has embraced modern technology to offer a wide variety of services, such as Foreign Exchange dealing (1999),ATMs (2004), Mobile banking (2008), and more. As of 2021 June, the Bank has 509 branches and 941 ATMs across 106 rural, 247 semi-urban, 80 urban, and 76 metropolitan centres in Tamil Nadu where it has a strong presence. Furthermore, TMB was recognised by Pension Fund Regulatory and Development Authority of India as the Best Performing Bank for the period 2020-2021 under the Atal Pension Yojana. As a leading bank, their services are primarily focused towards meeting the banking and financial needs of MSMEs, agricultural and retail customers.

Share Price: ₹482.20 per share as on 19 Apr, 2024 04:01 PM
Market Capitalisation: ₹7,634.92Cr as of today
Listing date: 15 Sep, 2022
Chairperson Name: BALAKRISHNAN PRABAHARAN

Organisation	Tamilnad Mercantile Bank Ltd
Headquarters
Industry	Banks
E-voting on shares	Click here to vote

Key events for Tamilnad Mercantile Bank Ltd

RBI Rejects TMB's Proposed Candidates for Top Post - 13 Apr, 2024
The Reserve Bank of India has rejected three candidates proposed by Tamilnad Mercantile Bank for the post of Managing Director and Chief Executive Officer. The regulator has asked the bank to submit a fresh panel of candidates with suitable experience. Additionally, RBI has appointed its Regional Director Thomas Mathew as an Additional Director on the board of TMB.
Tamilnad Mercantile Bank to Challenge ₹110 Crore Demand - 04 Apr, 2024
Tamilnad Mercantile Bank is challenging a demand of ₹110 crore due to certain additions and disallowances made. The bank believes it has adequate factual and legal grounds to substantiate its position, and expects the entire demand to subside. There is no impact on the bank's financial, operations or other activities.
Shareholder Appeals to Court for Appointment of MD & CEO at Tamilnad Mercantile Bank - 23 Mar, 2024
A shareholder of Tamilnad Mercantile Bank has filed an appeal to the Madras High Court to direct the RBI to appoint a new MD & CEO, citing concerns over the current CEO's impact on the bank's commercial parameters and market capitalization. The petitioner has also requested an interim order preventing the current CEO from making any major decisions until the appointment is made.
RBI Imposes Penalty on Tamilnad Mercantile Bank and DCB Bank - 20 Mar, 2024
The Reserve Bank of India has imposed a penalty of Rs1.95 crore on Tamilnad Mercantile Bank Ltd and DCB Bank Ltd for non-compliance with the regulator's directions. The highest penalty of Rs1.31 crore was imposed on Tamilnad Mercantile Bank for non-compliance with directions on interest rates on advances and central repository of information on large credits (CRILC) - revision in reporting.
Tamilnad Mercantile Bank Penalized by RBI - 19 Mar, 2024
The Reserve Bank of India has imposed a monetary penalty of Rs 1.32 crore on Tamilnad Mercantile Bank for non-compliance with certain directions under the provisions of the Banking Regulation Act, including failure to benchmark interest rates and wrongly reporting external ratings.

Fundamentals of Tamilnad Mercantile Bank Ltd

Insights on Tamilnad Mercantile Bank Ltd

Insights help you understand the recent movement of the company's critical parameters, giving you an overall view of the company.

POSITIVE IMPACT
FII Holding Up
Foreign Institutions have increased holdings from 2.06% to 3.14% in Dec 2023 quarter
NO EFFECT
Against Peers
In the last 1 year, State Bank of India has given 37.9% return, outperforming this stock by 19.0%
NEGATIVE IMPACT
Retail Holding Down
Retail Investor have decreased holdings from 93.66% to 93.23% in Dec 2023 quarter
NEGATIVE IMPACT
Price Dip
In the last 6 months, TMB stock has moved down by -16.3%
NEGATIVE IMPACT
MF Holding Down
Mutual Funds have decreased holdings from 0.11% to 0.08% in Dec 2023 quarter

Mutual Fund Holdings

Funds	Holdings
Nippon India Nifty Smallcap 250 Index Fund Dir Gr	0.38%
SBI Nifty Smallcap 250 Index Fund Direct Growth	0.38%
Motilal Oswal Nifty Smallcap 250 Index Fund Direct Growth	0.38%
ICICI Prudential Nifty Smallcap 250 Index Fund Direct Growth	0.38%
HDFC Nifty Smallcap 250 Index Fund Direct Growth	0.38%