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.
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