Abhishek Securities

Tamilnad Mercantile Bank is looking for a new Managing Director cum Chief Executive Officer. The announcement has come at least seven months ahead of the expiry of the current Managing Director HS Upendra Kamath’s term in office. Kamath assumed charge in July 2014 for a period of three years. The 95-year old Thoothukudi-headquartered bank, caught in a number of legal battles over its ownership, has seen quite a churn of the people at the helm. G Narayanamoorthy served for three years between 2006 and 2009. His two-year term ended in November 2008, but was extended at intermittent intervals till May. G Nagamal Reddy took over in June 2009. He demitted office in 15 months. AK Jagannathan, who succeeded Reddy, was earlier the Managing Director of State Bank of Travancore. He served for a slightly longer period – 20 months – from September 2010 to May 2012, before seeking early retirement on health grounds. KB Nagendra Murthy assumed charge next in July 2012. Murthy, who started ...

Tamilnad Mercantile Bank Ltd (TMB)  Net Profit growth of 6% to Rs.402.16 Cr  from Rs.379.40 Cr (Last year).  Book value also has risen from Rs.91,203/ per sh (last year)  to Rs.1,03,000/ per share as on 31.3.16.  2nd interim dividend of Rs 40 paise per share(after bonus). For Tamilnad Mercantile Bank (TMB), growth will be driven by micro/small enterprises, retail and trader segments and mid-corporates in a limited way, said HS Upendra Kamath, Managing Director and Chief Executive of the bank. In 2015-16, the bank recorded a net profit growth of 6 per cent to ₹402.16 crore from ₹379.40 crore in the previous fiscal (FY15). Total business rose 17.70 per cent to ₹52,946.59 crore (₹44,985.91 crore in FY15). The bank has set a business target of ₹60,000 crore for the current fiscal. The new board, which assumed charge in March this year, has declared 500 bonus shares for every shareholder. “This would involve a transfer of about ₹120-130 crore from res...

The Tamilnad Mercantile Bank has been adjudged as the best performing bank under “Atal Pension Yojana Scheme” in the private sector banks category. M Gunasekaran, General Manager, Tamilnad Mercantile Bank Ltd, in a release said Union Minister of State for Finance Jayant Sinha presented the award to Tamilnad Mercantile Bank Managing Director & CEO HS Upendra Kamath at function held at New Delhi on Thursday.  Sandip Ginodia , Director   ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Total Operating Income rise 6.00% to Rs 743.57 crore Net profit of Tamilnad Mercantile Bank rose 69.11% to Rs 134.54 crore in the quarter ended March 2015 as against Rs 79.56 crore during the previous quarter ended March 2014. Total Operating Income rose 6.00% to Rs 743.57 crore in the quarter ended March 2015 as against Rs 701.46 crore during the previous quarter ended March 2014. For the full year,net profit rose 26.14% to Rs 379.40 crore in the year ended March 2015 as against Rs 300.77 crore during the previous year ended March 2014. Total Operating Income rose 4.92% to Rs 2835.53 crore in the year ended March 2015 as against Rs 2702.65 crore during the previous year ended March 2014. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Tamilnad Mercantile Bank today inroduced the 'TMB Little Super Star savings bank scheme' exclusively for children in the age group of 11 to 18 years. The scheme was launched at a function at the Kamaraj College here by Mayor A P R Antony Grace and presided over by H S Upendra Kamath, MD & CEO of the bank. New Passbooks were distributed on the occassion to minor children who opened accounts under the new scheme. The Scheme was launched simultaneously at all 10 Regional offices of the bank Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Tuticorin-based lender Tamilnad Mercantile Bank (TMB) is following up on the rebranding initiatives it had embarked on some two years ago. The bank, conventionally known as a small traders’ bank, continues to focus on retail lending while targeting new-generation customers. It is awaiting court clearances to hit the IPO market. KB Nagendra Murthy, managing director & chief executive officer of the bank, tells Sajan C Kumar that TMB wants to grow profitably. Excerpts: What has been the impact of the new rebranding initiative? We are continuing to upgrade our technology platform and trying to implement paperless transactions as far as possible. By March 2014, we want to have 1,000 business centres — branches and ATMs. Today, we have 962 business centres, which include 362 branches and 600-plus ATMs. We are focusing on the retail segment and are reasonably doing well. We have already hit our target for agricultural advances, which is 21% of the total portfolio. What are the pl...

Tamilnad Mercantile Bank (TMB), which has been declaring a high level of dividends to its shareholders, has not paid dividend  to the tune of Rs 70 crore to its shareholders, as four annual general meetings (AGM) of the bank were not held due to legal disputes between the shareholders. Shareholders from the bank said since AGMs for 2009-10, 2010-11, 2011-12 and 2012-13 were not held, the bank did not pay dividend to the tune of Rs 70 crore to them. The AGMs were not held since shareholders, including foreign institutional investors (FIIs), are fighting over voting rights at various courts. The latest development is that FII holdings to the tune of 32 per cent had been frozen by the Madurai bench of the Madras High Court and recently, one of the shareholders filed a petition at the Madras High Court related to the tenure of additional directors in the bank. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For...

Tamilnad Mercantile Bank has started the process of finding a new Managing Director and Chief Executive in view of the incumbent K.B. Nagendramurthy’s approaching retirement in June. Nagendramurthy, who took over the reins in July 2012, told  Business Line  he is not keen on seeking an extension.His predecessor A.K. Jagannathan demitted office in May 2012, before completing the two-year term, citing health reasons.

I t’s almost a year and half now since the Nadar community dominated TMB (Tamilnad Mercantile Bank) has been hinting about an IPO (initial public offering). Mr. Nagendra Murthy, Chief Executive, TMB said, "The paperwork & ground work is almost done. We are ready. But the timing can be decided only after the court sets the date for the AGM’. This 92 year old bank is in the meantime strengthening itself. With a paid-up capital of a mere Rs 28 lakh & reserves (excluding revaluation reserve) in excess of Rs. 1.634 crore, the bank has grown despite various constraints/controversies. TMB's shares (with face value of Rs. 10 per share) are said to be traded at over Rs. 55,000 per share in the grey market. Shares of TMB are available please contact the undersigned .  Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecurities.com/unlisted.htm  / call : 0983...

Tamilnad Mercantile Bank Ltd has registered a 52.68 per cent growth in its net profit at Rs 295.23 crore in the third quarter ended December 2012. Its net profit stood at Rs 193.37 crore in the year ago period. Net interest income increased by 36.53 per cent to Rs 171.08 crore, while the operating profit rose by 44.77 per cent to Rs 483.78 crore from Rs 334.18 crore in the corresponding period in the previous year, the bank said in a release. Net non-performing assets came down to 0.54 per cent from 0.60 per cent in the year-ago period. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit : www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com For more info and regular updates about unlisted shares and the stock market : Follow our blog :  www.abhisheksecurities.blogspot.com  . Visit :  www.abhisheksecurities.com...

Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit : www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com For more info and regular updates about unlisted shares and the stock market : Follow our blog :  www.abhisheksecurities.blogspot.com  . Visit :  www.abhisheksecurities.com  . Like us on facebook :  www.facebook.com/abhisheksecurities  

The board of Tuticorin-headquartered  Tamilnad Mercantile Bank  (TMB) has approved an interim dividend of Rs 900 per share of Rs 10 each (2012-13), which is the highest in terms of percentage.  Bank’s managing director and chief executive officer  AK Jagannathan  said this would translate to around Rs 25 crore. He was speaking after launching its mobile banking solution. “This is the first time in the history of the bank that such a big interim dividend is being paid and it will be one of the highest in the banking industry in the country,” said Jagannathan. The 90-year-old Tamilnad Mercantile Bank has reported 25 per cent growth in net profit, at Rs 313 crore, in 2011-12, and set a target of Rs 500 crore by 2015, with a total business of Rs 62,000 crore. The Nadar community-promoted bank is one of the fastest growing among the 17 small-sized banks in the country . Jagannathan said year-on-year the bank grew 26 per cent and between April and Decem...