Buy SBI Cards and Payment Services, target price Rs 910: Yes Securities

Yes Securities has buy call on SBI Cards and Payment Services Ltd. with a target price of Rs 910. The current market price of SBI Cards and Payment Services is Rs 805.

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 80162.53 Crore) operating in Financial Services sector.


SBI Cards and Payment Services Ltd. key Products/Revenue Segments include Interest, Fees & Other Charges, Other Services, Service Charges, Commission and Income From Sale Of Share & Securities for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 3139.66 Crore, up 16.48 % from last quarter Total Income of Rs 2695.46 Crore and up 23.62 % from last year same quarter Total Income of Rs 2539.77 Crore. Company reported net profit after tax of Rs 385.78 Crore in latest quarter.


Investment Rationale
The stock has turned upwards after taking support at the previous cluster of supports indicating a possible uptrend in the coming sessions. Further, a sustained trade above Rs 860 will take it higher to levels of Rs 910. Moreover, RSI has also turned higher from the oversold zone suggesting a short-covering rally may be seen.

Promoter/FII Holdings
Promoters held 69.47 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.28 per cent, DIIs 11.92 per cent.