Latest news with #SBICards
Mint
4 days ago
- Business
- Mint
SBI Cards to Piramal Pharma - Prashanth Tapse suggests 3 stocks to buy in the short term
Stock market today: Indian stocks gained on Friday, recovering from an initial decline, following the Reserve Bank of India's unexpected decision to cut its key repo rate by 50 basis points to bolster economic growth. In a surprise move, the central bank also reduced banks' Cash Reserve Ratio (CRR) by 100 basis points and shifted its policy stance from accommodative to neutral. As of 12:46 IST, the Nifty 50 increased by 0.93% to reach 24,980 . 45, while the Sensex was up by 0.9% at 82,131.45. Prior to the RBI's policy announcement, the indices were down approximately 0.2%. Prashanth Tapse of Mehta Equities believes that Nifty 50 breakout above the 24,900 level could open the door to a new leg higher. Tapse recommends buying SBI Cards, PCBL Chemical, 360 ONE WAM, and Piramal Pharma. Nifty 50 is currently trading at 24,716, showing a mild pullback but still maintaining its overall bullish setup. The index continues to hold key supports at 24,650 and 24,500, which are acting as accumulation zones. Momentum indicators such as RSI remain neutral to positive, and the MACD is close to a bullish crossover. A breakout above the 24,900 level could open the door to a new leg higher. Until then, buying on dips near support is recommended for positional traders. Resistance: 24,800 – 24,900 Bank Nifty is trading at 55,903, up by 154 points, and continues to trend upward within a broad consolidation range. The index has respected its support at 55,700 and 55,500, and momentum remains intact. The RSI reflects steady strength, while the MACD is on the verge of confirming a bullish signal. A close above 56,100 would confirm a breakout and may result in strong momentum-driven gains. Traders may use any intraday dips to build long positions with a defined stop loss. Resistance: 56,000 – 56,100 Prashanth Tapse recommends buying these three stocks in the short term -SBI Cards and Payment Services Ltd, PCBL Chemical Ltd, 360 ONE WAM Ltd, and Piramal Pharma Ltd. SBI Cards share price is maintaining a positive trend after stabilizing near the ₹ 920– ₹ 930 range. The stock is forming a strong base with gradually improving momentum on the daily chart. Technical indicators such as RSI are showing a bullish bias, suggesting increased buying interest. The price is also holding well above short-term moving averages. A move above ₹ 950 could trigger a breakout, opening targets of ₹ 980 and ₹ 1000. Traders may consider initiating fresh longs at current levels with a stop loss at ₹ 918, aligning with a favourable risk-to-reward setup. PCBL Chemical share price is exhibiting early signs of a potential breakout from its consolidation phase. The stock has been trading in a tight range while building higher lows, which is a constructive technical sign. Momentum indicators like RSI are trending higher, and volume has started to rise slightly, hinting at accumulation. The price structure suggests that a move above ₹ 430 could lead to a quick rally toward ₹ 445 and ₹ 460. Traders can consider buying at current levels with a stop loss at ₹ 414 to capture the next directional move. 360 ONE share price has been consolidating within a narrow range after a sharp run-up, indicating strength and readiness for a continuation move. The stock is trading above key moving averages and is supported by a strong RSI and MACD setup. A breakout above ₹ 1,080 could lead to a fresh rally toward ₹ 1,120 and beyond. The consolidation pattern adds reliability to the setup, and the stock looks well-positioned for a short- to medium-term uptrend. Entries near the current level are attractive, with a protective stop loss at ₹ 1,040. PPL Pharma share price has shown a strong rebound from its recent lows and is now trading with a positive bias near ₹ 208. The stock is forming a bullish flag pattern, supported by increasing volumes and an improving RSI trend. Momentum is gradually building, and the MACD is on the verge of a crossover that could add further strength. If the price sustains above ₹ 210, it may witness a swift up move toward ₹ 225 and ₹ 235. Traders looking for fresh opportunities in the pharma sector can consider buying with a stop loss at ₹ 198. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India Today
5 days ago
- Business
- India Today
Want to update your credit card email? Follow these steps
With the introduction of new RBI KYC norms, credit card holders in India can now easily update their registered email addresses using mobile apps, net banking, or by visiting bank branches. This change responds to a growing demand for digital flexibility, allowing customers to manage their communication preferences more of June 2025, most major banks and financial institutions have made provisions for both digital and offline updates, requiring proper authentication to ensure secure initiative aligns with the Reserve Bank of India's emphasis on maintaining updated Know Your Customer (KYC) records, facilitating real-time communication with UPDATING YOUR EMAIL MATTERS Keeping your email address updated is crucial as it is used by banks and credit card companies to send monthly statements, transaction alerts, and important regulatory outdated email could lead to missed notifications, delayed payments, or even financial fraud. To address this, institutions like SBI Cards, HDFC Bank, and Axis Bank have outlined clear procedures for updating email addresses. Customers can initiate changes via the internet, mobile banking apps, or by visiting a branch with valid KYC TO UPDATE YOUR REGISTERED EMAIL ADDRESSFor those looking to update their registered email address, most banks have standardised the process to enhance user convenience. To change your registered email address for your credit card, you can download and log in to your bank's official mobile app or internet banking there, go to the 'Profile' or 'Service Requests' section, select the option to update your contact details, and enter your new email will need to verify it using an OTP or secure PIN. Once done, you will receive a confirmation via SMS or email. Alternatively, you can visit your nearest branch with valid KYC documents to update your email in PUSH FOR DIGITISED UPDATESIn May 2025, the RBI proposed draft amendments to simplify and digitise the process of updating personal details, including email initiative aims to reduce delays, enhance communication, and bolster data privacy for over 12 crore active credit card users in India. Financial institutions have upgraded their systems to ensure quick, secure, and consistent updates across various platforms, reflecting an industry-wide response to regulatory changes.
Mint
27-05-2025
- Business
- Mint
Karnataka Bank Prime SBI Credit Card: Step-by-step application process
The Karnataka Bank provides for a credit card in collaboration with SBI Cards. The card is known as the Karnataka Bank SBI Card PRIME. This is a premium credit card developed for aspirational credit card users who are seeking a blend of rewards and lifestyle benefits. This card provides advantages such as reward points on various expenditures, milestone based gift vouchers, complimentary lounge access etc. You can avail this credit card and make the most of its benefits by following just four simple steps Eligibility criteria Age: Aspirational applicants must be between 21 and 70 years old. Aspirational applicants must be between 21 and 70 years old. Income: A stable annual income is mandatory, generally a net monthly income of ₹ 50,000 or more. A stable annual income is mandatory, generally a net monthly income of 50,000 or more. Credit score: A good credit score, between 750 and 900 ideally, can significantly boost chances of approval. A good credit score, between 750 and 900 ideally, can significantly boost chances of approval. Residency: The applicant must be an Indian citizen with valid address proof such as an Aadhaar card, voter ID document etc. Note: The eligibility discussed above is illustrative in nature. Refer to the official website of Karnataka Bank for more details and updated terms and conditions. Visit the official website: Reach out to the Karnataka Bank SBI Card PRIME page to initiate the process of application submission. Click on 'Apply Now' option: This will redirect you to the SBI Card application portal where the entire application will be filled and submitted. Fill in the application form: Provide necessary personal and financial details as requested and submit the online application. Keep basic documents such as Voter ID, Aadhaar card etc., handy while submitting the form. Submit required documents: Upload documents such as identity proof, address proof, and income proof. For the same you must have digitally scanned copies of your essential documents such as PAN card, Aadhaar card, Voter ID card etc. Annual Fee: ₹ 2,999 + GST with a waiver on annual spends above ₹ 3 lakhs. 2,999 + GST with a waiver on annual spends above 3 lakhs. Welcome gift: E-Gift voucher worth ₹ 3,000 from select brands as soon as you avail the card. E-Gift voucher worth 3,000 from select brands as soon as you avail the card. Reward points: 20 points per ₹ 100 on utility bill payments; 10 points per ₹ 100 on dining, groceries, movies and departmental stores. 20 points per 100 on utility bill payments; 10 points per 100 on dining, groceries, movies and departmental stores. Lounge access: 4 complimentary international and 8 domestic airport lounge visits per year. Note: The features discussed above are illustrative in nature. For the updated terms, conditions and features refer to the official website of Karnataka Bank. Milestone rewards: E-Gift vouchers worth ₹ 1,000 on quarterly spends of ₹ 50,000 and ₹ 7,000 on annual spends of ₹ 5 lakh. E-Gift vouchers worth 1,000 on quarterly spends of 50,000 and 7,000 on annual spends of 5 lakh. Fuel surcharge waiver: 1% waiver on transactions between ₹ 500 and ₹ 4,000, capped at ₹ 250 per month. 1% waiver on transactions between 500 and 4,000, capped at 250 per month. Fraud liability cover: Complimentary cover of ₹ 1 lakh. Note: The additional benefits discussed above are illustrative in nature. For the updated terms, conditions and additional benefits refer to the official website of Karnataka Bank. For any more updates, clarifications and details on how to apply visit the official website of Karnataka Bank. You can also discuss your doubts and problems with the designated customer service team of Karnataka Bank by reaching them out on the number: 1800 425 1444. Disclaimer: The features, benefits, and eligibility criteria mentioned above are subject to change without prior notice. The customer care number discussed above is also prone to updates, do verify the latest information on the official Karnataka Bank website.
Mint
06-05-2025
- Business
- Mint
Stocks to buy for short term: From ITC, SBI Cards to Policybazar— experts suggest THESE 6 stock picks; do you own any?
Stocks to buy for the short term: The Indian stock market has been rangebound over the last few sessions amid escalating tensions between India and Pakistan in the wake of the Pahalgam terror attack. Benchmark Nifty 50 declined about 0.40 per cent in morning trade on Tuesday, May 6, as investors keep a close tab on the evolving situation between the two Asian countries. The outcome of the US Federal Reserve meeting, due on Wednesday, is also in focus, even as the market expects the US central bank to hold rates. Fed Chair Jerome Powell's comments on growth and inflation will be the key factor for the markets globally. Experts suggest investors be cautious due to heightened uncertainty on the India-Pakistan front. They advise being prudent in stock selection and betting on stocks with healthy fundamentals and favourable technical indicators. Vishnu Kant Upadhyay of Master Capital Services and Hardik Matalia of Choice Broking recommend buying the following six stocks for the next 2-3 weeks. Take a look: ITC has formed a strong bullish candle on the daily chart, breaking above its recent swing high — a positive sign of trend continuation. The stock has witnessed strong buying interest from lower levels, with a recent healthy throwback toward its demand zone, followed by a sharp rebound, indicating renewed strength and buyer dominance. ITC is trading above all its key exponential moving averages — short-term (20-day), medium-term (50-day), and long-term (200-day) — highlighting a solid bullish structure. The RSI stands at 67.54 and is trending upward, reinforcing the improving momentum and growing buying interest. "If the stock sustains above the ₹ 440 mark, it could trigger further upside movement in the near term," said Matalia. "Traders may consider buying ITC at ₹ 436.95, with a stop loss placed at ₹ 416. On the higher side, the stock has the potential to move toward the ₹ 475– ₹ 485 zone, offering an attractive risk-reward opportunity for short-term traders," Matalia said. SBI Cards is maintaining an upward trend, consistently forming higher highs and higher lows on the daily timeframe — a classic bullish structure. The stock recently witnessed a throwback from its swing high, retesting its demand zone, and has since shown a sharp rebound, signalling renewed buying interest and the potential to break above its recent swing high. SBI Cards has rebounded from its short-term and medium-term exponential moving averages and is now trading above all its key EMAs, confirming strong underlying trend strength. The RSI stands at 59.15 and is on the verge of a positive crossover, indicating improving momentum and rising buyer participation. "A sustained move above the ₹ 930 level could trigger further upside, opening the path toward the ₹ 980– ₹ 1010 range in the short term," said Matalia. "Traders may consider buying the stock at ₹ 904.35, with a stop loss set at ₹ 855. The setup offers an attractive risk-reward ratio for momentum-driven trades," Matalia said. Policybazar has been consolidating within a defined range near its key support zones after witnessing a sharp correction of nearly 41 per cent from its recent highs. Despite the decline, the stock is showing signs of recovery by forming a pattern of higher highs and higher lows, indicating a potential bullish reversal. Policybazar is now trading above all its key exponential moving averages — short-term (20-day), medium-term (50-day), and long-term (200-day) — which suggests a strengthening trend. The RSI is placed at 56.64 and is trending upward with a positive crossover, reflecting growing buying interest and momentum. "A sustained move above the ₹ 1,700 mark could confirm a breakout from the current consolidation phase, paving the way for an upside move," said Matalia. "Traders may consider buying Policybazar at ₹ 1,669.40, with a stop loss at ₹ 1,580. On the upside, the stock has the potential to test the ₹ 1,830– ₹ 1,850 zone, offering a favourable risk-reward ratio for short-term gains," Matalia said. ICICI Lombard General Insurance Company has exhibited a decisive breakout above a descending trendline, indicating a potential trend reversal. The breakout is accompanied by a significant rise in volume, reflecting renewed buying interest. The stock price is sustaining above its key 21- and 55-day exponential moving averages (EMA), which supports the ongoing bullish momentum. Furthermore, the RSI stands at 56, and a bullish divergence on the MACD highlights underlying strength. Triveni Engineering has registered a bullish trend reversal, breaking out of a well-defined rounding bottom formation on the daily chart. The breakout was accompanied by a notable surge in volume, indicating strong accumulation. Post-breakout, the stock retested the horizontal resistance-turned-support and bounced sharply, reaffirming bullish sentiment. It is now trading above its key 21-EMA and 55-EMA, signalling positive momentum. The RSI is currently at 61, while a bullish divergence on the MACD further strengthens the case for continued upward movement. Balkrishna Industries has recently shown a promising bullish breakout from a well-defined falling wedge pattern, as highlighted in the attached chart. This pattern, typically recognised as a bullish reversal setup, had been compressing price action for several months, forming lower highs and lower lows within a narrowing range. The stock successfully broke above the upper boundary of this wedge, signalling a potential shift in momentum. It has also reclaimed key moving averages, including the 34-day, 55-day, and 100-day EMAS, reinforcing the underlying strength. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary. First Published: 6 May 2025, 11:47 AM IST
Economic Times
25-04-2025
- Business
- Economic Times
Kotak Equities downgrades SBI Cards to‘add', increases target price after 19% YoY decline in PAT
SBI Cards' Q4FY25 net profit dropped 19.4% YoY, prompting Kotak Institutional Equities to downgrade the stock's rating. Despite a focus on growth, slower expansion is expected in FY2026. Challenges include slower card issuances, conservative risk approach, and limited cost-of-funds advantage. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads After SBI Cards and Payments Services reported a 19.4% year-on-year (YoY) drop in net profit to Rs 534.2 crore for the quarter ended 31 March 2025, domestic brokerage firm Kotak Institutional Equities downgraded the stock's rating to 'add' from 'buy', but has increased its target price to Rs 950, up from Rs 850 brokerage firm noted that it has shifted its focus to growth but expects FY2026 to see slower growth.'SBICARD reported a 20% yoy decline in earnings as 7% yoy operating profit growth was offset by high provisions (LLP was at 9 %). Card issuance (10% yoy) has slowed while spends grew 11% yoy. The reduction in credit cost is visible and we expect this improving trend to accelerate and remain lower for longer. We shift focus to growth but expect FY2026 to see slower growth,' the brokerage firm Equities, in its report said that it finds the stock discomforting. However, it sees payments having better growth opportunities and believes that SBI Cards has a relatively strong ecosystem to capture this opportunity. The tailwinds for the business look Q4FY25, SBI Cards faced fewer challenges on asset quality, with credit costs improving to around 9% of loans. However, management remains cautious due to past uncertainties. While there is potential for positive surprises in credit cost trends, the current stock valuation limits further upside unless growth significantly Equities outlined three hurdles for a re-rating: lack of significant growth in card issuances , a conservative risk approach, and limited cost-of-funds brokerage firm expects near-term growth to underperform expectations and considers the case for a valuation re-rating less compelling. Their current projections do not include the kind of growth surge seen post-demonetization or during the Covid recovery phase, where lenders were more comfortable with their portfolio, resulting in faster card additions.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
