SBI Cards Share Price drops 0.5% to Rs 854.75

SBI Cards Share Price drops 0.5% to Rs 854.75

SBI Cards & Payment Services Ltd. is a subsidiary business of State Bank of India. On Wednesday, SBI Cards share price traded with a 0.46 percent loss and around 449,492 shares exchanged on the counter. The share price started at Rs 862. It hits an intraday high and low price of Rs 865.00 and Rs 851.80, respectively.

As of the exchange data, the total market cap of the stock stood at Rs 80,712.73 crore. It quoted a 52-week high price of Rs 868.5 and a 52-week low price of Rs 495.25.

As per the technical analysis, SBI Cards & Payment Services shares trading in a bullish trend. Besides, the 50-DMA was stood Rs 781.81.

SBI Cards has reported Q1 results for the current financial year. It has published a consolidated sales of Rs 2,152.2 crore for the quarter ended June 2020. Yet, Q1 results decreased 11.55 percent from the previous quarter of Rs 2,433.24 crore. 

However, the SBI Cards & Payment Services Limited net profit stood at Rs 393.29 crore for the latest quarter.

India’s largest bank SBI owned a 60% stake in SBI Card and GE capital business held a 40% stake. However, Promoter has 69.53 percent of ownership in SBI Card, while DIIs and FIIs held 2.58% and 4.23 percent, respectively.

Stock Market September 16th:

At 12:31 PM (IST), both Sensex and Nifty continued a bullish trend in the stock market. The BSE Sensex advanced 85.53 points with a 0.22% increased and reached a 39,129.88 level. Besides, the Nifty increases 33.60 points with a 0.29% increased and reached the 11,555.40 level.

On the other hand, the number of confirmed or coronavirus cases in India reached 50,20,359 as of September 16th, and deaths reached 82,091.

In the border markets, the S&P BSE Small-Cap reported a bullish trend in the stock market. It scores 21.82 points with a 0.14% increase and reached the 15,385.39 level. The S&P BSE Mid-Cap gains 5.02 points with a 0.18% increase and reached a 15,041.35 level. While the Nifty Bank dropped 162.20 points with a 0.72% rise and reached the 22,303.45 level.