Tamilnad Mercantile Bank Jumps 4.5% After Strong Q1 Business Update

Shares of Tamilnad Mercantile Bank $TMB surged as much as 4.5% intraday after the bank reported robust Q1 business growth. Total deposits increased 19.7% YoY to ₹64,409 crore, while gross advances climbed 27.01% to ₹57,306 crore. Total business expanded 23.04% YoY to ₹1.21 lakh crore, reflecting healthy loan and deposit growth. Meanwhile, CASA deposits rose 16.94% to ₹16,852 crore, supporting the bank's funding base. The strong operational update boosted investor confidence, driving buying interest in the stock during today's trading session. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes only. Investors must verify information before investing and consider their financial position & risk profile.