3 stories mentioning BOM:543596
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Tamilnad Mercantile Bank (NSE:TMB, BOM:543596) will open a new branch at Tirur in the Malapuram District of Kerala, India, on Thursday, according to a Wednesday filing to the Indian stock exchanges.The lender has scheduled the operational opening of the new location for Thursday, May 21.
Indian benchmark indices closed higher on Monday, snapping a three-day losing streak, as value buying and expectations of renewed U.S.-Iran talks supported the market.The BSE Sensex rose 639.42 points, or 0.8%, to close at 77,303.63, while the NSE Nifty 50 gained 194.75 points, or also 0.8%, to settle at 24,092.70.Sentiment improved on expectations that the US and Iran may resume talks soon. Stronger-than-expected quarterly earnings also helped boost investor confidence.Among stocks, Tamilnad Mercantile Bank (NSE:TMB, BOM:543596) gained 7% after reporting a rise in fiscal Q4 net profit to 3.74 billion rupees from 2.92 billion rupees a year earlier. Earnings per share increased to 23.60, while interest income rose to 15.5 billion rupees.Sun Pharmaceutical Industries (NSE:SUNPHARMA, BOM:524715) also jumped 7% after agreeing to acquire US-based Organon & Co in an all-cash deal valued at $11.8 billion. The company will purchase shares at $14 each and plans to fund the transaction through cash and bank financing.
Tamilnad Mercantile Bank's (NSE:TMB, BOM:543596) net profit rose to 3.74 billion Indian rupees in the fiscal fourth quarter ended March 31 from 2.92 billion rupees a year ago.Earnings per share came in at 23.60 rupees from 18.44 rupees a year earlier, according to a Monday filing to the Indian stock exchanges.Interest earned by the lender in fiscal Q4 also increased to 15.5 billion rupees from 13.4 billion rupees a year ago.The board recommended a final dividend of 12.50 rupees per equity share of the face value of 10 rupees each for fiscal 2026 ended March 31.The bank's shares jumped over 12% in recent trade.