Tamilnad Mercantile Bank shares surge 5% after strong Q1FY27 business update

Tamilnad Mercantile Bank shares surged 5% after its Q1FY27 business update showed total business at Rs 1,21,715 crore, up 23.04% year-on-year. Gross advances rose 27.01% YoY to Rs 57,306 crore, while deposits grew 19.71% YoY to Rs 64,409 crore. CASA deposits increased 16.94% YoY to Rs 16,852 crore, though they dipped 2.95% sequentially, and institutional interest rose with FPI holdings climbing from 4.95% to 6.19% in the March 2026 quarter.