SBI Cards shares slip over 15%, hits new low of Rs 501

Shares of SBI Cards and Payment Services fell 15% intraday on Monday to hit a new all-time low following reports of lockdown extension beyond the pre-decided period of 24 March to April 14, 2020.

The stock is currently trading at its lowest level of Rs 501 since listing on March 16, 2020. It has lost 33.6% against  issue price of Rs 755 per share.

The stock price of SBI Cards has traded in a wide range of Rs 79.45, with an intraday volatility of 10.83%. SBI Cards is trading lower than 5, 20, 50, 100 and 200-day moving averages.

SBI Cards share price has fallen 14% in the last one week.

According to the company's shareholding pattern data as of March 31, 2020, institutional investors holdings rose to 7.86% from 6.87% while stake held by individual shareholders declined to 5.57% from 7.33%.

According to experts, prevailing uncertain market conditions amid the rising cases of the virus and extension of the lockdown period have  caused volatility and led to the downfall in the stock.

Zee Entertainment share slips 14% on Rs 522-crore investment in tech arm

Share Market LIVE: Sensex slips 300 points, Nifty at 9,000; pharma stocks outperform

HDFC share price rises 4% after People's Bank of China raises stake

Avenue Supermarts share hits 5% lower circuit after half of D-Mart stores shut down