TMB STOCK
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RBI approves a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement
RBI approves Committee of Executives in Tamilnad Mercantile Bank as an interim arrangement. CoE comprises S Narayanan, D Ramesh, PR Ashok Kumar. Bank selecting suitable candidates for top post, unclear why Krishnan's successor not selected after 8 months. TMB had only one whole time director.
Tamilnad Mercantile Bank Q3 Results: Net profit remains flat at Rs 284 crore
Private sector lender Tamilnad Mercantile Bank's net profit remained flat at Rs 284 crore in the December quarter despite a massive growth in lending.
For moderate risk takers with a long term perspective ? 5 midcap stocks from different sectors with the right financial matrix
Last week, the correction started with a private sector bank leading the fall. However, the very next trading session there was a sharp correction in mid-cap index and the markets breadth turned negative. This follow up of correction in a short span is a clear indication that high valuations are a weight on the street mind. This means higher probability of a correction in mid-cap space if there is any trouble with Nifty. So, be cautious while taking exposure as a correction mid-cap is more harsh in terms of price cut on individual stocks.
For calibrating and diversifying risks? 6 midcap stocks from different sectors with the right financial matrix
As the Dalal street continues to be in party mode, staying bullish would appear to be the most logical thing at this point of time. Why fight against a trend, while staying bullish, just add an element of caution. When we use the word caution, we mean stay with quality and especially if one is increasing exposure at this point of time. There is enough evidence to show that owning quality stocks pays both in bullish and bearish markets conditions. In a bullish market, they tend to rise faster and when a bearish phase comes, they do lose weight like others but less as compared and have shown tendency to recover fast post a bearish phase. so stay bullish but be selective.
Tamilnad Mercantile Bank MD S Krishnan resigns citing 'personal reasons'
Managing Director of Tamilnad Mercantile Bank, S Krishnan, has resigned from his position, citing "personal reasons" just 13 months after taking charge. This comes shortly after the bank made an alleged mistake of transferring Rs 9,000 crore to a taxi driver's account in Chennai. The bank has not responded to inquiries regarding the matter.
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Tamilnad Mercantile Bank shares jump 17% to hit 52-week high
The company reported an 11.54% year-on-year (YoY) jump in its June quarter net profit at Rs 261 crore, up from Rs 234 crore reported by the lender in the corresponding period of the previous financial year.
Stocks in the news: TCS, Wipro, NMDC, Apollo Hospitals, Zomato and Adani Power
Tata Consultancy Services has bagged a deal from Rail Delivery Group to design, develop, implement, and operate the UK's Rail Data Marketplace. The contract between TCS and RDG is for a term of six years.
TMB jumps over 7% after RBI authorisation to undertake govt business
“RBI has authorised TMB for undertaking Government Business on behalf of RBI. Agreement has been signed by the bank with RBI at Mumbai for appointing TMB as an Agency Bank of RBI for undertaking Government Agency Business”, TMB said in a regulatory filing.
RBI authorises Tamilnad Mercantile Bank to undertake government business
TMB is one of the oldest private sector banks with a history of over 100 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of services primarily to micro, small and medium enterprises, agricultural and retail customers.
Tamilnad Mercantile Bank Q2 Results: Profit jumps 37% YoY to Rs 262 crore
Gross non-performing assets (NPAs) were reduced to 1.70 per cent of gross advances as of September 30, 2022 from 3.31 per cent by the end of September 2021.
RBI lifts ban on new branches of Tamilnad Mercantile Bank
RBI had placed the ban on TMB in 2019 after the bank's shareholders decided to raise authorized share capital to Rs 500 crore. The central bank objected to the bank not raising its subscribed capital to at least half of the authorized capital as required.
RBI rejects TMB's recommendation to appoint B Vijayadurai as non-executive chairman
"Reserve Bank of India vide their letter dated September 19, 2022, declined our request for appointment of B Vijayadurai as part time non executive Chairman of the Bank," the bank said in a regulatory filing on Tuesday.
TMB makes muted debut on listing day at IPO price
The IPO consisted of the fresh issue of 15.8 million shares. The Thoothukudi-based private lender allotted 71,28,000 equity shares to 10 anchor investors ahead of the IPO, raising ₹363.53 crore at ₹510 apiece.
Post IPO, Tamilnad Mercantile Bank to continue to focus on RAM segment: MD
“If you look into the nation as a whole, the CASA by and large comes from the eastern and north eastern part of the country. When we decide on the branch expansion, we will be factoring this as one of the key elements so that we can increase the CASA.”
Tamilnad Mercantile Bank shares list at 3% discount to IPO price
Incorporated in 1921, Tamilnad Mercantile Bank offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more.
Tamilnad Mercantile Bank: Should buy, sell or hold after muted listing?
However, analysts remain positive on the private lenders despite its muted debut at the bourses and suggest that investors should hold the counter for a longer run. However, any fresh entry at current levels shall be avoided, majority of them said.
Stocks in the news: TMB, Vedanta, Tata Steel, GR Infra and Balaji Amines
The century old private lender Tamilnad Mercantile Bank will make its debut at Dalal Street on Thursday. Its had raised Rs 831.6 crore via its IPO between September 5-7 by selling its shares in the range of Rs 500-525.
Tamilnad Mercantile Bank IPO: Here's how to check allotment status and GMP
The company's Rs 832 crore primary offering was sold in the range of Rs 500-525 per equity share. The issue had received a muted response from all the categories of investors, subscribing 2.86 times between September 5-7.
Tamilnad Mercantile Bank IPO subscribed 2.86 times on last day of bidding process
The issue attracted bids for 2,49,39,236 shares or 2.86 times against the issue size of 87,12,000 shares. The quota reserved for retail individual investors (RIIs) was subscribed 6.48 times, qualified institutional buyers by 1.62 times and NII by 2.94 times.
Should you buy Tamilnad Mercantile Bank shares from unlisted market ahead of IPO?
One should understand that any pre-IPO equity has a mandatory lock-in of at least 6 months from the date of IPO allotment, but in this case it is 12 months as TMB is a professionally managed bank and does not have any identifiable promoters.
Tamilnad Mercantile Bank IPO kicks off: Should you subscribe?
Most analysts said the asking valuations are attractive when compared with peers, but the bank’s future growth would be subject to pending legal actions. Some of them, therefore, have a 'subscribe' rating on the issue with a long-term view.
Tamilnad Mercantile Bank IPO: 15 things you must know before subscribing
The IPO of Tamilnad Mercantile Bank will close for subscription on Wednesday, September 7.
Tamilnad Mercantile Bank IPO to open on Sept 5; price band fixed
The IPO is entirely a fresh issue of up to 1,58,40,000 equity shares with a face value of Rs 10 each, aggregating to Rs 831.6 crore. TMB is a professionally managed bank and does not have any identifiable promoters.
Multibagger bets, anyone? Some analysts suggest unlisted names
Dealers of unlisted shares say this space is not for traders; but investors with a long-term outlook can hope to earn hefty returns, if they can pick the right bets.
How the TMB buyout bid came to haunt Standard Chartered after 13 years
According to the ED report, Stanchart India held securities of TMB as collateral for money lent by Stanchart Mauritius to overseas companies for purchase of TMB shares. Such a transaction, without the permission of RBI, amounts of violation of FEMA.
Jhunjhunwala, Ambani, Dhoni & much of D-Street awaiting these big-bang IPOs
Some of these firms have strong balance sheets and credible financials to support this frenzy.
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