SBI Cards declines 6% after nearly 7% equity changes hands via block deal

According to reports, US-based private equity (PE) firm Carlyle planned to offload 5.1 per cent stake in SBI Cards and Payment Services

Shares of SBI Cards and Payment Services tanked 6 per cent to Rs 984 on the National Stock Exchange (NSE) in intra-day trade on Friday after nearly 7 per cent of the company's total equity changed hands on the NSE and BSE.

At 10:26 am, the stock was trading 5.5 per cent lower at Rs 994 on the NSE. Earlier in the day, around 64 million shares, representing 6.8 per cent of the total equity of the company, changed hands on the NSE and BSE, exchanges data shows. However, the names of the buyers and sellers could not be