April 27 (Reuters) - India's SBI Cards and Payment Services reported a fourth-quarter profit rise on Monday, helped by improving asset quality and higher spending.

Analysts are weighing in on several Indian companies. Kotak Securities sees potential in LG Electronics, while Bernstein is cautious on SBI Cards. Nuvama is bullish on Yatharth Hospitals' expansion plans. Goldman Sachs maintains a neutral stance on Nestle India, anticipating sustained growth. Citigroup views Siemens' business sale as having minimal impact.

BENGALURU/MUMBAI: State Bank of India the country’s largest lender by assets, and Europe’s biggest fund manager Amundi will jointly sell a 10% stake in SBI Funds Management through an initial public offering, the former said in a statement on Thursday. The asset management firm is India’s largest fund manager, collaring a market share of more than 15% and managing assets worth 120 billion rupees ($1.37 billion). The fund, a joint venture between SBI and Amundi, serves retail and institutional investors through mutual funds and investment portfolios. This is a second attempt by the partners to list the asset manager after an earlier announcement in 2021. This listing will unlock value for the asset manager, and the Indian market presents significant development potential, said Valérie Baudson, CEO of the French firm, which manages 2,317 billion euros in assets. This year is expected to be a record for India’s IPO market, with the proceeds surpassing the previous year’s $20.5 billion as some of the country’s largest firms - Tata Capital Electronics India and HDB Financial - offered blockbuster listings.

India’s SBI Cards and Payment Services reported second-quarter profit below expectations on Friday, hurt by higher operating costs even as its asset quality improved. The company’s profit after tax rose 10% to 4.45 billion rupees for the three months ended September 30, but fell short of analysts’ average expectations of 5.79 billion rupees, according to data compiled by LSEG. Operating costs rose 24% from the year-ago quarter as the company increased spending on customer campaigns and offers, and paid out higher incentives to its corporate partners, the credit card firm said. Finance cost and provisions were largely stable year-on-year. SBI Card - majority-owned by the country’s largest lender by assets, State Bank of India - has struggled with asset quality stress and higher delinquencies on credit cards. The company had tightened underwriting over the last few quarters, which helped it improve asset quality. Its gross non-performing assets ratio improved to 2.85% from 3.07% in the previous quarter and 3.27% in the year-ago quarter.

As India celebrates Samvat 2082, LKP Securities unveils its top stock picks for Muhurat Trading, anticipating up to 30% gains. The brokerage highlights Bajaj Finance, Divi's Laboratories, FSN E-Commerce Ventures, Swiggy, State Bank of India, and SBI Cards, citing strong technical indicators and bullish chart patterns for these selections.

All eyes are on key export sectors, including textiles, jewelry, and chemicals, as the 50% tariffs on Indian goods came into effect on Wednesday.

Indian shares fell on Monday as financials and IT declined due to weak results from Kotak Mahindra Bank and Tata Consultancy Services’ layoff plans, respectively, and as uncertainty over trade talks with the U.S. hit overall sentiment. The Nifty 50 fell 0.63% to 24,680.9 points, and the BSE Sensex lost 0.7% to 80,891.02. The broader small-caps and mid-caps lost 1.3% and 0.8%, respectively. Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of an interim deal ahead of U.S. President Donald Trump’s August 1 deadline. However, a framework trade agreement between the U.S. and European Union eased fears of a bigger trade war between the two allies, which account for almost a third of global trade. Thirteen of the 16 major sectors logged losses. High-weightage financials and private banks lost 0.7% and 1.7%, respectively, dragged by a 7.4% fall in Kotak Mahindra Bank after it posted a drop in quarterly profit.

Indian equities fell for the third consecutive session, with Kotak Mahindra Bank and other heavyweights leading to a nearly 0.70% drop in benchmark indices. The Nifty 50 settled at 24,680, and the S&P BSE Sensex closed at 80,874, both reflecting significant declines.

IndusInd Bank, Bharat Electronics, Adani Green Energy, and Torrent Pharma, among other companies, are scheduled to report their quarterly earnings later in the day