Eleven penny stocks have delivered over 10,000% returns since May 2021, transforming Rs 1 lakh into over Rs 21 crore for some investors. These rallies were fueled by sectors like power, defence, and infrastructure, alongside a surge in retail participation. However, experts caution about the extreme risks associated with these volatile, thinly traded stocks.
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.