Geojit has given a buy rating to SBI Card with a target price of Rs 913. The share price moved up by 0.01 per cent from its previous close of Rs 814.30. The stockâs last traded price is Rs 814.30.
SBI Cards and Payment Services Ltd., incorporated in the year 1998, is a Small Cap company (having a market cap of Rs 76508.03 Crore) operating in Financial Services sector.
For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 2413.40 Crore, up 12.14 % from last quarter Sales of Rs 2152.20 Crore and up 5.11 % from last year same quarter Sales of Rs 2296.07 Crore Company reported net profit after tax of Rs 206.15 Crore in latest quarter.
The brokerage expects growth momentum to pick-up in retail credit activity and daily spends in the coming quarters as market recovers back to normalcy. SBI Cardsâ solid foothold, healthy asset quality, brand image and increasing market share should continue to support the Companyâs performance. Given current upside potential, the brokerage reiterates BUY rating on the stock with a target price of Rs. 913 based on 10.5x FY22E BVPS.
Promoters held 69.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 5.9 per cent, DIIs 3.2 per cent and public and others 21.4 per cent.