Saturday, October 30, 2021

SBI Cards' shares fell 6.3% on Q2 Result | Stock Outlook


SBI Cards' shares fell 6.3%  on Q2 Result

The weak market sentiment has led to a big selloff in SBI Cards and Payments despite results, which many analysts say matched expectations. The NBFC declared net revenue of Rs 2,441 crore, with Interest Income of Rs 1,173 crore and fees and other income (includes fee income, service charges, etc) of Rs 1,522 crore.

This was up 8.1 per cent year-on-year (YoY) and up 9.9 per cent sequentially (QoQ). While Net Interest Income (NII) was lower by 9.1 per cent YoY and down 1 per cent QoQ, fees and other income was up 23 per cent YoY and up 17 per cent QoQ. PAT was up by 67 per cent YoY.

Stock Outlook

Long term is positive and hold. Stock is also near its short term support of 1050. Long position can be made for the levels of 1174 in short term.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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