SBI Cards rallies 6% to hit record high on healthy June quarter results

Shares of SBI Cards and Payment Services have rallied 6 per cent to Rs 794.50 in intra-day trade on the BSE on Tuesday after the company reported 14 per cent year on year (YoY) rise in net profit at Rs 393 crore in the April-June quarter (Q1FY21) on higher interest income. The State Bank of India (SBI)-promoted company had recorded a profit of Rs 346 crore in a year ago quarter. The stock is trading at highest level since its listing on March 16, 2020. It has surpassed its previous high of Rs 769 hit on March 18.

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