SBI Cards & Payment Services Ltd.'s share prices rose over 5% after Nuvama and Nomura upgraded the stock's rating to a 'buy'. The upgrade is attributed to improving credit cost outlook and benefit from potential interest rate cuts. The stock previously had a 'reduce' rating.
Nuvama increased its target price to Rs 850 from Rs 620 per share. This implies a potential upside of 17.5% over Friday's close of Rs 723. Nomura, too, raised its rating to 'buy' with a target price of Rs 825, seeing a 17.4% return potential over Thursday's close.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The brokerage cited asset quality improvement and potential rate cut-driven re-rating likely in near term. Over the past two years, the company has consistently missed earnings expectations due to rising credit costs and limited signs of a turnaround.
Credit costs peaked in the second quarter of fiscal 2025 and are expected to remain stable in the third quarter, Nuvama said. It should start improving in the January-March period.
SBI Cards Share Price Today
SBI Cards stock rose as much as 5.16% during the day to Rs 760 apiece on the NSE. It was trading 2.47% higher at Rs 741.45 apiece, compared to a 0.67% decline in the benchmark Nifty 50 as of 10:53 a.m.
It has fallen 3.25% in the last 12 months. Total traded volume so far in the day stood at 13 times its 30-day average. The relative strength index was at 65.23.
Seven of the 27 analysts tracking the company have a 'buy' rating on the stock, nine recommend a 'hold' and 11 suggest a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 705.88, implying a downside of 4.9%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.