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Nifty on Monday ended 223 points higher to form a long bull candle on the daily chart as it challenged the crucial hurdle of 22,500 levels.The short-term uptrend of Nifty seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, said Nagaraj Shetti of HDFC Securities.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesNifty continued to remain in the uptrend as the index closed with solid gains. The index maintained its position above the critical 21EMA, signaling a continuation of the bullish trend. The momentum indicator, RSI (14), shows a bullish crossover. It is projected to move towards 22,800-22,850 in the short term, with support at 22,550.Jatin Gedia, SharekhanNifty opened on a positive note and continued to inch higher throughout the day to close with gains of 223 points. On the daily charts, we can observe that Nifty has been holding on to the 20-day moving average and rising steadily. The pullback in the previous trading session was bought into and Nifty resumed its up move. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Mahindra & Mahindra on Monday launched the much-anticipated Mahindra XUV 3XO, a compact SUV and facelifted version of the popular XUV 300, in the Indian market. The new model is priced at Rs 7.49 lakh, as reported by ET Now and has updated design, features, and safety enhancements.Design RevampThe XUV 3XO sports redesigned front and rear fascias, drawing inspiration from Mahindra's BE line-up of SUVs. Chrome-finished triangular embellishments in the grille, updated headlight clusters, and fang-shaped LED DRLs are also part of the upgrade. The rear features connected LED taillights and a reworked tailgate, enhancing its overall appeal.109698032Interior UpgradesInside, the XUV 3XO features a new dashboard layout similar to the XUV 400 EV, along with a large touchscreen infotainment system and a digital instrument cluster. — MahindraXUV3XO (@MahindraXUV3XO) Segment-Leading FeaturesMahindra introduced segment-first features in the XUV 3XO, including a panoramic sunroof, a seven-speaker Harman Kardon sound system, and dual-zone climate control accessible through AdrenoX-connected car tech. Powertrain OptionsThe XUV 3XO has retained its current engine lineup, including a 1.5-liter turbo diesel, a 1.2-liter turbo petrol, and a Turbosport variant. Transmission options will include a 6-speed manual or an AMT automatic.Safety features: The XUV 3XO showcases advanced safety elements, such as a 360-degree camera featuring a Blind View Monitor, Electronic Stability Control (ESC) with hill hold and descent control. It also features six airbags, four disc brakes, three-point seat belts with reminders for all seats, and a passenger airbag on/off option for child safety. Moreover, the vehicle provides ISO-FIX child seats with top-tether, along with various other safety enhancements.

Fashion and lifestyle player Trent on Monday reported a multifold jump in consolidated net profit at Rs 712 crore for the quarter ended March 31, 2024. The profit stood at Rs 45 crore in the corresponding quarter last fiscal.The company reported a revenue of Rs 3,298 crore, up 51% year-on-year (YoY) from Rs 2,183 crore reported by the company in Q4FY23.The earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q4FY24 rose 126% YoY to Rs 477 crore as compared to Rs 211 in Q4FY23. Meanwhile, the margin for Q4FY24 rose to 15% as compared to 10.2% in Q4FY23.The board of directors of the company also recommended a dividend of 320% i.e., Rs 3.20/- per equity share of Re 1/- each, subject to the approval of shareholders. The dividend, if approved, shall be paid on or after the second day from the conclusion of the 72nd annual general meeting.As of 31st March 2024, the company's store portfolio included 232 Westside, 545 Zudio and 34 stores across other lifestyle concepts. During the quarter, it added 12 Westside and 86 Zudio stores across 65 cities including 25 new cities."In Q4FY24, our fashion concepts registered encouraging LFL growth of well over 10% vis-à-vis Q4FY23. Across all our brands, we remain focused on delivering consistent value to customers through attractive product offerings. In addition, our stores continue to provide an elevated brand experience even as we have accelerated expansion," the company said in an exchange filing.The emerging categories including beauty & personal care, innerwear and footwear continued to gain traction with customers. These emerging categories now contribute to over 20% of its standalone revenues.Westside.com together with our proposition on the Tata Neu platform continues to grow profitably and this combined online presence contributes to over 6% of Westside revenues, it said.On the performance of Q4 results, Noel N Tata, Chairman of Trent said, "In a competitive market, we continue to experience resonance and customer traction for our lifestyle offerings across brands, concepts, categories and channels. The growing of our offerings, resilience of our business model choices and the strength of our platform are reflected in our business results."We have applied Trent’s playbook to the Star business and are witnessing strong customer traction. This reinforces our conviction to build out this growth engine in the food, grocery, and general merchandising space. The success of own branded products also augurs well for the Star business. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward," Noel Tata said.During the current quarter the term of leases has been reassessed, resulting in an exceptional gain of Rs 543 crores, tax impact thereon is Rs 137 crores (net of tax Rs 406 crores) and the same has been recognized as an exceptional item. Consequently, the Right of Use Assets and Lease Liabilities stand reduced by Rs 2,720 crores and Rs 3,247 crores respectively. The EPS without this exceptional gain is Rs 28.95. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Shares of SBI Cards and Payment Services dropped 4% to the day’s low of Rs 718 on Monday after the company released its Q4 results on Friday wherein an 11% year-on-year (YoY) rise in profit after tax to Rs 662 crore for the quarter ended March 2024 was reported.Total revenue rose 14% YoY to Rs 4,475 crore in the fourth quarter of 2023-24, as against Rs 3,917 crore in the year-ago period.Interest income grew 28% YoY to Rs 2,139 crore in Q4 FY24 while the fees and commission income increased by 6% to Rs 2,209 crore in the March quarter, SBI Card said in a statement.The report further added that nearly all the other retail product lines that they follow are not showing these high delinquency ratios, making it harder to understand this divergence.For FY25, the management is guiding a steady growth in card issuances and recovery in corporate credit card spending, which were impacted by the recent guideline wherein there was a ban on specific types of B2B corporate credit card transactions along with a credit cost at approximately 7% levels, which remains flat year on year. Further, they mentioned that there is still some lagged impact on the cost of funds, and they expect that they are closer to the bottom of the NIM profile.Here’s what brokerages say:NomuraAs asset quality woes continue, Nomura expects FY25 to be a difficult year. Profitability is also likely to be under pressure for SBIC for the upcoming year. Hence, Nomura has rated SBIC for ‘reduce’ with a target price of Rs 640.Morgan StanleyThe global brokerage firm rates SBIC as ‘equalweight’ with a target of Rs 750 as Morgan Stanley states that the industry grew at 20% YoY in March 2024 (likely because of the continued impact of RBI’s recent notification on corporate spending) , while SBI Cards’ growth was much slower at 1% YoY. Further, the company's market share also fell YoY and MoM to 15.2% for March 2024.UBSUBS has maintained a ‘neutral’ rating with a price target of Rs 805 as the credit costs continue to remain elevated and retail spending stays strong. The company’s lower opex drove PAT beat while the revolver mix improved slightly.Kotak Institutional Equities“The industry continues to show promising trends as card issuances are healthy and translation into spend growth leading to high RoEs makes this business attractive. However, the performance of SBI Cards has been far-from satisfactory. We do believe that a reversal of the current credit cost cycle could happen, which should aid in a sharp recovery in earnings. Also, interest rates are at peak levels and incremental NIM pressure is likely to be negligible”.KIE maintains a ‘buy’ view on the stock with a target price of Rs 900.ICICI SecuritiesThe company has faced several challenges over the last 4 years including higher credit cost during covid, higher cost to income during BNPL surge, structural decline in revolver mix, higher cost of funds post-covid and a higher cost of funds andcredit cost due to stress in unsecured lending accompanied by the increase in risk weights by the RBI. However, the company has still been able to deliver earnings CAGR of 34.7%/22.8% over the last 3/5 years.Backed by the above, ICICI has maintained its ‘add’ rating on the stock with a target price of Rs 820.InCred EquitiesSBI Cards continued to demonstrate a weak profitability trend amid falling margins and elevated credit costs. Post adverse policy action by the RBI, we expect a slowdown in card issuance and overall spending amid weak capital adequacy & deteriorating asset quality. We also expect its premium valuation to erode with growth slowing & profitability weakening.On these grounds, InCred advises to ‘reduce’ the stock with a target price of Rs 500.Axis SecuritiesThe credit card industry has been dealing with asset quality concerns for the past few quarters, largely driven by customer over-leveraging. To tackle the problem of over-leveraging, SBIC has taken multiple corrective measures and will continue to fine-tune policies and processes. The newly sourced portfolio (45% share of book in Q4FY24) has been continuing to perform better and as the share of this sourcing increases, SBIC is likely to witness portfolio quality improvement. Axis Securities recommends to ‘buy’ the stock with a target of Rs 850.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)