Buy SBI Cards and Payment Services, target price Rs 800: Yes Securities

Yes Securities has buy call on SBI Cards and Payment Services with a target price of Rs 800. The current market price of SBI Cards and Payment Services is Rs 737.25. Yes Securities recommended to keep stop loss at Rs 702.

SBI Cards and Payment Services, incorporated in the year 1998, is a Small Cap company (having a market cap of Rs 70052.74 Crore) operating in Financial Services sector.

SBI Cards and Payment Services key Products/Revenue Segments include Fees & Commission Income, Interest, Other Services, Sale of services and Commission for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 3656.15 Crore, up 5.87 % from last quarter Total Income of Rs 3453.32 Crore and up 16.45 % from last year same quarter Total Income of Rs 3139.66 Crore. Company has reported net profit after tax of Rs 509.46 Crore in latest quarter.

The company’s top management includes Mr.Dinesh Kumar Khara, Mr.Rama Mohan Rao Amara, Ms.Anuradha Shripad Nadkarni, Mr.Dinesh Kumar Mehrotra, Mr.Rajendra Kumar Saraf, Dr.Tejendra Mohan Bhasin, Mr.Shriniwas Yeshwant Joshi, Mr.Swaminathan Janakiraman, Mr.Mihir Narayan Prasad Mishra. Company has S Ramanand Aiyar & Co. as its auditors. As on 31-12-2022, the company has a total of 95 Crore shares outstanding.

Investment Rationale
Post downtrend, the stock has formed multiple bullish candles in the recent past.

Promoter/FII Holdings
Promoters held 69.05 per cent stake in the company as of 31-Dec-2022, while FIIs owned 9.13 per cent, DIIs 16.7 per cent.