SBI Cards and Payment Services stock slips 5%, falls after two sessions
Shares of SBI Cards and Payment Services slipped 4.71% to Rs 835.45 against the previous close of Rs 876.75 on BSE.
- Apr 5, 2022,
- Updated Apr 5, 2022 1:34 PM IST
Shares of SBI Cards and Payment Services fell nearly 5 per cent today amid reports that Carlyle Group, a private equity firm, will exit the firm via block trade today.
SBI Cards and Payment Services stock slipped 4.71 per cent to Rs 835.45 against the previous close of Rs 876.75 on BSE. The large cap stock has fallen after two days of consecutive gain. The stock trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages.
SBI Cards stock has lost 10.2 per cent in one year and fallen 8.78 per cent in 2022. Total 53.15 lakh shares of the firm changed hands amounting to a turnover of Rs 452.37 crore on BSE. The stock hit a 52-week high of Rs 1164.65 on September 1,2021 and a 52-week low of Rs 712.35 on March 7, 2022.
Market cap of the firm fell to Rs 79,877 crore on BSE. Carlyle will sell 2.92 crore shares at Rs 851.50-876.75 each-a 2.9 per cent discount to Monday's closing price of Rs 876.75.
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The proceeds from the block trade are expected at Rs 2,558 crore. As of December 31, 2021, the Washington-based firm held a 3.09 per cent stake or 29.2 million equity shares held in SBI Cards. The shares were offered in the Rs 851.5-876.75 price band.
In 2017, Carlyle bought a 26 per cent stake in the card company from GE Capital Corp at Rs 2,000 crore. At the end of December 2021 quarter, three promoters held 69.47% or 65.51 crore shares in the arm of SBI.
SBI is the sole majority promoter holding 69.20 per cent stake or 65.26 crore shares in the firm. Public shareholders owned 30.53 per cent stake or 28.79 crore shares in the third quarter of previous fiscal. SBI Cards & Payment Services (SBI Cards) reported a net profit of Rs 386 crore, up 83.8 per cent in the quarter ended 31 December, 2021. The company posted a net profit of Rs 210 crore in the year-ago period.
The company's December quarter total revenue from operations increased 20 per cent to Rs 2,889 crore versus Rs 2,408 crore year ago, whereas its total income increased 24 per cent YoY to Rs 3,140 crore.
Shares of SBI Cards and Payment Services fell nearly 5 per cent today amid reports that Carlyle Group, a private equity firm, will exit the firm via block trade today.
SBI Cards and Payment Services stock slipped 4.71 per cent to Rs 835.45 against the previous close of Rs 876.75 on BSE. The large cap stock has fallen after two days of consecutive gain. The stock trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages.
SBI Cards stock has lost 10.2 per cent in one year and fallen 8.78 per cent in 2022. Total 53.15 lakh shares of the firm changed hands amounting to a turnover of Rs 452.37 crore on BSE. The stock hit a 52-week high of Rs 1164.65 on September 1,2021 and a 52-week low of Rs 712.35 on March 7, 2022.
Market cap of the firm fell to Rs 79,877 crore on BSE. Carlyle will sell 2.92 crore shares at Rs 851.50-876.75 each-a 2.9 per cent discount to Monday's closing price of Rs 876.75.
Stocks in news: Zomato, TCS, Vedanta, SBI Cards and more
The proceeds from the block trade are expected at Rs 2,558 crore. As of December 31, 2021, the Washington-based firm held a 3.09 per cent stake or 29.2 million equity shares held in SBI Cards. The shares were offered in the Rs 851.5-876.75 price band.
In 2017, Carlyle bought a 26 per cent stake in the card company from GE Capital Corp at Rs 2,000 crore. At the end of December 2021 quarter, three promoters held 69.47% or 65.51 crore shares in the arm of SBI.
SBI is the sole majority promoter holding 69.20 per cent stake or 65.26 crore shares in the firm. Public shareholders owned 30.53 per cent stake or 28.79 crore shares in the third quarter of previous fiscal. SBI Cards & Payment Services (SBI Cards) reported a net profit of Rs 386 crore, up 83.8 per cent in the quarter ended 31 December, 2021. The company posted a net profit of Rs 210 crore in the year-ago period.
The company's December quarter total revenue from operations increased 20 per cent to Rs 2,889 crore versus Rs 2,408 crore year ago, whereas its total income increased 24 per cent YoY to Rs 3,140 crore.