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Friday, May 13, 2022

From L&T to Apollo Tyres: Here are top stocks to watch on May 13

Stocks to watch: From Poonawalla Fincorp to Jammu and Kashmir Bank, here are the key stocks to look out for on Friday's trade.

By: Express Web Desk | New Delhi |
Updated: May 13, 2022 9:47:52 am
stocks to watch todayRepresentative image: Pixabay

Domestic stock markets on Thursday plummeted 2.2 per cent as fears over high inflation and the possibility of further hikes in interest rates made investors nervous, leading to selling pressure.

The benchmark Sensex dove 1,158 points to 52,930.31 and the NSE Nifty by 359 points at 15,808.00 as the broad sell-off, led by foreign investors, hit sentiment.

Going ahead, here are the top stocks to watch on Friday, May 13, 2022:

Larsen & Toubro (L&T)

Larsen & Toubro on Thursday reported a 10 per cent growth in its consolidated net profit at Rs 3,620.69 crore for the quarter ended March, 2022. The company had posted a consolidated net profit of Rs 3,292.81 crore in the year-ago period, Larsen & Toubro (L&T) said.

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The consolidated income during the quarter under review rose to Rs 53,366.26 crore from Rs 49,116.16 crore in the year-ago period.

Jammu and Kashmir Bank

Jammu and Kashmir Bank on Thursday reported a net profit of Rs 112.20 crore for the January-March quarter of FY2022 against Rs 315.75 crore in the year-ago quarter.

Total income of the bank rose to Rs 2,209.40 crore in the fourth quarter from Rs 2,108.01 crore in the year-ago period, according to a regulatory filing.

For the full 2021-22 fiscal, the bank reported a net profit of Rs 501 crore, registering a growth of 16 per cent year on year.

Poonawalla Fincorp

Poonawalla Fincorp on Thursday reported a consolidated net profit of Rs 118.9 crore for the quarter ended March. The non banking finance company had reported a net loss of Rs 647.70 crore in the same quarter a year ago.

Total revenue from operations was down by 11 per cent at Rs 512.20 crore in Q4 FY22, as against Rs 572.80 crore in the same period of FY21, the company said in a release. The company’s board has recommended a dividend payment of 20 per cent, subject to shareholders’ approval, it said.

Assets under management (AUM) for FY22 increased to Rs 16,579 crore, recording a growth of 17 per cent over FY21, while disbursements stood at Rs 9,494 crore, growing by 158 per cent over FY21. The company said its housing subsidiary Poonawalla Housing Finance Limited (PHFL) crossed the Rs 5,000-crore AUM mark in March 2022.

Aditya Birla Capital

Aditya Birla Capital on Thursday reported a rise of 20 per cent in its consolidated profit after tax at Rs 450 crore in quarter ended March 2022. The consolidated revenue of the company for Q4 FY22 grew 18 per cent from a year ago to Rs 6,962 crore, Aditya Birla Capital (ABCL) said in a release.

For the entire financial year 2021-22, the consolidated revenue grew 16 per cent year on year to Rs 23,633 crore. The consolidated profit after tax for the year grew 51 per cent to Rs 1,706 crore, the highest ever recorded by the company, it added.

Apollo Tyres

Apollo Tyres on Thursday said its consolidated net profit has declined by 61 per cent to Rs 113 crore for the fourth quarter ended March. The company had reported a consolidated net profit of Rs 287 crore in the January-March quarter of 2020-21 fiscal.

Revenue from operations rose by 11 per cent to Rs 5,578 crore, as against Rs 5,026 crore in the fourth quarter of FY21, Apollo Tyres said in a statement.

For the year ended March 31, 2022, the tyre major said its net profit increased by 82 per cent to Rs 639 crore, as compared to Rs 350 crore in 2020-21. Revenue from operations rose by 20 per cent to Rs 20,948 crore, as against Rs 17,397 crores in FY21, the company said.

-from PTI inputs

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