Shares of the firm hit fresh lifetime high of Rs 1,095 apiece today, up 3 per cent on the BSE, in an otherwise weak market.
With a market-capitalisation (m-cap) of Rs 1.02 trillion, State Bank of India-arm SBI Cards and Payment Services on Friday stood at 34th position in the overall m-cap ranking, BSE data showed. The firm’s m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel.
With the government's push towards digitalization, coupled with developments in e-commerce and growth in POS infrastructure, the India is gradually shifting towards a cashless economy. This and recovery from the Covid-19 pandemic are some of the factors fuelling the rally in the stock price, analysts say.
“With the focus now on growth, SBI Cards will be an early beneficiary as the economy recovers on the back of being a play
First Published: Feb 19 2021 | 11:27 AM IST