Strong Price Momentum and Market Outperformance
The stock has demonstrated impressive momentum over recent periods, significantly outpacing the broader Sensex index. Over the past week, Tamilnad Mercantile Bank’s shares have appreciated by 7.15%, compared to the Sensex’s modest 0.87% gain. This trend extends over one month and year-to-date horizons, with the bank delivering returns of 6.82% and 17.90% respectively, well above the Sensex’s 2.03% and 9.60% in the same periods. Even on a one-year basis, the stock’s 12.66% return comfortably exceeds the benchmark’s 7.32%.
On 01-Dec, the stock hit a new 52-week high of ₹557, marking an intraday gain of 9.81%. It has also outperformed its sector by 5.27% on the day, underscoring its relative strength within the banking space...
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