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SBI Cards share hits all-time high, market cap at Rs 95,994 crore

BusinessToday.In     February 12, 2021

SBI Cards and Payment Services share hit all-time high today, surpassing its previous record of Rs 1,040, hit on January 22 this year. SBI Cards stock touched an intraday high of Rs 1048.65, rising 2.34% against previous close of Rs 1024.65 on BSE.

SBI Cards share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Later, the stock closed 0.39% lower at Rs 1,020 The share has risen 19.97% since the beginning of this year and gained 6.16% in one year.

The sharp rally this year has led to the market cap of the firm nearing Rs 1 lakh crore mark. Market cap stood at Rs 95,994 crore today.

In Q3 of current fiscal, SBI Cards and Payment Services reported nearly 52 per cent dip in its net profit to Rs 210 crore on higher provisioning. The company had posted a net profit of Rs 435 crore during the corresponding period of the previous financial year.

Its total income grew marginally to Rs 2,540 crore during October-December 2020, against Rs 2,563 crore in the year-ago period. The impact of COVID-19 has led to a significant volatility in global and Indian financial markets, which may persist after restrictions related to the pandemic outbreak are lifted.

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