Stock splits are intended to reduce the price of shares, making them more accessible to retail investors. However, several Indian small-cap companies have misused this mechanism, using it as a significant milestone to artificially inflate their stock prices.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.