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SBI Card dips 4% after over 40 million shares change hands via block deal

At 09:15 am, around 41.89 million equity shares, representing 4.5 per cent of total equity of SBI Cards and Payment Services, changed hands on the counter on the BSE, exchange data shows

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Morgan Stanley has initiated coverage on SBI Cards with a target price of Rs 1,300

SI Reporter Mumbai
Shares of SBI Cards and Payment Services declined up to 4.4 per cent to Rs 977 on the BSE in the intra-day trade on Wednesday after over 40 million equity shares changed hands via block deal.

At 09:15 am, around 41.89 million equity shares, representing 4.5 per cent of total equity of SBI Cards and Payment Services, changed hands on the counter on the BSE, exchange data shows. The names of the buyers and sellers, howver, could not be ascertained immediately.

According to reports, US private equity fund CA Rover Holdings, an affiliate of Carlyle Asia Partners, is looking to