Tamilnad Mercantile Bank Hits New 52-Week High of Rs. 523.6
Tamilnad Mercantile Bank has reached a significant milestone by hitting a new 52-week high of Rs. 523.6 today, marking a notable achievement for the small-cap private sector bank. This price reflects a 2.73% increase during the trading session and is part of a positive trend, as the stock has gained 4.74% over the past three days. In terms of performance, Tamilnad Mercantile Bank has outperformed its sector by 1.2%, showcasing its strong market position. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating robust momentum.
Over the past year, the bank has delivered a return of 17.18%, significantly surpassing the Sensex's performance of 5.24%. The bank's financial health is underscored by a high capital adequacy ratio of 25.68% and impressive quarterly results, including a gross and net NPA of 0.00%. With a return on assets of 1.8 and a price-to-book value of 0.9, Tamilnad Mercantile Bank continues to demonstrate strong fundamentals in the competitive banking landscape.
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