INSUBCONTINENT EXCLUSIVE:
With this fall to Rs 505.60, SBI Cards shares have fallen 30% from its issue price of Rs 755 per share, and are trading at the lowest level
But, the unexpected slump in the market due to the coronavirus outbreak and rich valuations resulted in the stock making a weak debut and
While next three quarters look under stress for consumer discretionary plays like SBI Cards, the bounce back will be equally fast led by
of SBI Cards for FY19 increased 43.52% year on year to Rs 862.70 crore from Rs 601.10 crore reported for the year-ago period
Net interest income rose nearly 25% onyear to Rs 2,558.50 crore in FY19.
Meanwhile, both domestic fund houses and overseas investors have
raised stake in SBI Cards in the quarter ended March
Mutual funds have raised stake to 3.04% from 1.6% a quarter ago while foreign portfolio investors have raised stake in the company to 4.07%
