SBI Cards & Payment Services Ltd

(SBICARD)

SBI Cards Faces Challenges Amid Rising Credit Costs - 04 Nov, 2024

SBI Cards reported a decline in net profit due to rising credit costs and falling fees. The management tightened underwriting standards amid increasing defaults. Interest income grew, but overall performance remains under pressure. Future outlook may improve if RBI cuts repo rates.

SBI Cards Faces Challenges After Weak Q2 Results - 30 Oct, 2024

SBI Cards reported a 33% decline in net profit for Q2FY25, prompting brokerages to downgrade their ratings and target prices. The company faces asset quality pressures and a tough fiscal year ahead, with shares declining 3% following the results announcement.

SBI Cards Reports Significant Profit Decline in Q2 - 29 Oct, 2024

SBI Cards and Payment Services reported a 33% drop in net profit to ₹404 crore for Q2 FY25, driven by increased provisions and bad debts. Total revenue rose 8% to ₹4,421 crore, but gross non-performing assets increased to 3.27%. New account volumes fell significantly, indicating growing stress in the unsecured loan segment.

SBI Cards Allocates Shares Under ESOP - 23 Oct, 2024

On October 23, 2024, SBI Cards & Payment Services allotted 36,500 equity shares under its Employee Stock Option Plan (ESOP), increasing its paid-up equity share capital to Rs. 9,51,30,42,740.

Axis Direct Recommends SBI Cards Stock - 16 Oct, 2024

Axis Direct has recommended SBI Cards as a buy, currently trading at Rs 740.8, with a target price of Rs 788 and a stop loss at Rs 728.

SBI Card Receives HOLD Rating Amid Price Target - 15 Oct, 2024

SBI Card closed at Rs 742.00, up 0.64%. An expert assigned a HOLD rating with a target of Rs 715, advising no fresh buying until the stock surpasses Rs 755-760.

SBI Card Raises Finance Charges and Fees - 14 Oct, 2024

SBI Card announced an increase in finance charges to 3.75% per month on unsecured credit cards starting November 1, 2024, and a new 1% fee on utility payments exceeding Rs 50,000 from December 1, 2024.

SBI Card Faces Significant Decline but Bullish Pattern Emerges - 07 Oct, 2024

SBI Cards experienced a steep decline of nearly 10%, dropping around 78 points to test a key demand zone. A bullish bat pattern has emerged near the 730 level, suggesting a potential long position in the 730-735 range, targeting 810 with a stop-loss at 692.