SBI Cards hits 12-week high on heavy volumes, zooms 28% in a month

SBI Cards made its stock market debut on March 16, 2020

Shares of SBI Cards and Payment Services rose 6 per cent on Monday to hit 12-week high of Rs 655, on the BSE on the back of heavy volumes.

The stock was trading at its highest level since March 30, 2020. In the past month, it has rallied 28 per cent, as compared to 14 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined 3.56 million shares changing hands on the NSE and BSE till 12:41 pm.

SBI Cards is the second largest credit card issuer in India.