SBI Cards trades higher for fifth straight day; stock gains 3%

Analysts remain positive on SBI Cards' long term structural story and the spends inching toward pre-Covid levels.

Shares of SBI Cards and Payment Services were up 3 per cent at Rs 855 on the BSE on Friday, gaining 4 per cent in the past two trading days after the company said it has launched credit cards in partnership with the digital payment platform Paytm.

The stock was trading higher for the fifth straight days and up 7 per cent during the week, as compared to 5 per cent rise in the S&P BSE Sensex.

Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform.