SBI Cards shares surge 5% on heavy volumes, hit fresh record high

Analysts believe the credit card growth story has just started unfolding with visibility of multi-year growth

Shares of SBI Cards and Payment Services (SBI Card) rose 5 per cent to hit a new high of Rs 957.45 on the BSE on Wednesday on the back of heavy volumes. The stock surpassed its previous high of Rs 918.60, scaled on October 15, 2020.

The trading volumes on the counter jumped 1.5 times. A combined 1.95 million equity shares had changed hands on the NSE and BSE, till 10:34 am. Currently, the scrip was trading 4 per cent higher at Rs 948 on the BSE as against a 0.08 per cent decline in the S&P BSE Sensex.

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