{"id":75851,"date":"2022-12-01T13:23:00","date_gmt":"2022-12-01T07:53:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=75851"},"modified":"2022-12-01T14:06:24","modified_gmt":"2022-12-01T08:36:24","slug":"newly-listed-bank-surges-7-57-after-an-agreement-with-rbi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/newly-listed-bank-surges-7-57-after-an-agreement-with-rbi\/","title":{"rendered":"Newly Listed Bank Surges 7.57% After An Agreement With RBI\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-350562834\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Tamilnad Mercantile Bank (TMB) appreciated to the tune of 7.57% to reach a 52-week high of \u20b9 548.50 apiece after the Reserve Bank of India (RBI) authorized it to undertake government business on its behalf. Its shares were trading at \u20b9 528.15 (up 3.58%) at 11:51 AM on Thursday.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-636560924\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The private sector lender signed an agreement in this connection with the RBI, in Mumbai, for appointing it as an \u2018agency bank\u2019 of the RBI to undertake government agency business.&nbsp;<\/p><p>\u201cOn getting listed in the Stock Exchanges, Tamilnad Mercantile Bank Ltd., is back to enrich our vision in expanding the network PAN India, with added features in the products and services,\u201d said S. Krishnan, MD &amp; CEO, Tamilnad Mercantile Bank.&nbsp;<\/p><p>The bank\u2019s shares made a dull stock market debut on the bourses on September 15, 2022. Its shares got listed at \u20b9 495 apiece on the NSE, which was at a 3% discount to the issue price of \u20b9 510 per share.They were trading almost sideways until November 30, 2022, however there was a spike after the agreement with the apex bank.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2434841897\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>TMB had reported a 37.1 per cent increase in net profit at \u20b9 262 crores in the July-September quarter on growth in income and a fall in bad loans. It earned a net profit of \u20b9191 crores last year.&nbsp;<\/p><p>Tamilnad Mercantile Bank is one of the premier scheduled commercial banks in India. It is headquartered in Thoothukudi, Tamil Nadu and has a long cherished history of 100+ years of eventful existence. It has a pan-India presence with 509 branches and 12 Regional Offices across 16 states and 4 Union Territories serving more than 5 million delighted customers.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2866120444\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Tamilnad Mercantile Bank (TMB) appreciated to the tune of 7.57% to reach a 52-week high of \u20b9 548.50 apiece after the Reserve Bank of India (RBI) authorized it to undertake government business on its behalf. Its shares were trading at \u20b9 528.15 (up 3.58%) at 11:51 AM on Thursday.&nbsp; The private sector [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-75851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newly Listed Bank Surges 7.57% After An Agreement With RBI\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/newly-listed-bank-surges-7-57-after-an-agreement-with-rbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newly Listed Bank Surges 7.57% After An Agreement With RBI\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of Tamilnad Mercantile Bank (TMB) appreciated to the tune of 7.57% to reach a 52-week high of \u20b9 548.50 apiece after the Reserve Bank of India (RBI) authorized it to undertake government business on its behalf. 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