India's Tamilnad Mercantile Bank rises 6% on earnings growth

Tamilnad Mercantile Bank

25/04/2023 06:26

** Shares of Tamilnad Mercantile Bank  TAMI.NS  rise as much
as 6.09%, most intraday gain in nearly five months since
December 1, 2022
    ** Private sector lender reported rise in net profit and
interest income in the March quarter during market hours on
Monday; TAMI gained 1.04% in the previous session
    ** Lender says it clocked highest ever net profit, operating
profit and net interest income in FY2023
    ** About 195,090 shares change hands as of 10:45 a.m. IST,
nearly twice the 30-day avg of 106,244 shares - Refinitiv data
    ** The MACD (moving average convergence divergence) line has
been above signal line since April 12, suggesting bullish
momentum




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))