Buy SBI Cards and Payment Services, target price Rs 1095: IIFL

IIFL has buy call on SBI Cards and Payment Services with a target price of Rs 1095. The current market price of SBI Cards and Payment Services is Rs 1064.85.

Time period given by analyst is Intra Day when SBI Cards and Payment Services Ltd. price can reach defined target.
SBI Cards and Payment Services Ltd., incorporated in the year 1998, is a Small Cap company (having a market cap of Rs 100240.52 Crore) operating in Financial Services sector.


Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 2450.94 Crore, down -.70 % from last quarter Total Income of Rs 2468.14 Crore and up 11.63 % from last year same quarter Total Income of Rs 2195.60 Crore. Company reported net profit after tax of Rs 304.61 Crore in latest quarter.

Investment Rationale
Stock has given a flag pattern breakout on the hourly chart.

Promoter/FII Holdings
Promoters held 69.4 per cent stake in the company as of March 31, 2021, while FIIs held 9.1 per cent, DIIs 5.5 per cent and public and others 16 per cent.