SBI Cards gains 5%, hits new high on assets quality improvement in Q3

With adequate provisions already accounted in earnings, growth steadily making a comeback led by spends and fresh card issuances, analysts see SBI Cards to be an early player exiting out of Covid-19

Shares of SBI Cards and Payment Services (SBI Cards) rallied 5 per cent to Rs 1,026 on the BSE in the intra-day trade on Froday after a sharp improvement in asset quality during October-December quarter (Q3FY21). The stock was trading at the highest level since its listing on March 16, 2020.

At 12:11 pm, SBI Cards was trading 4 per cent higher at Rs 1,020, as compared to a 0.73 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 3.5 million equity shares having changed hands on the NSE and