Buy SBI Cards and Payment Services, target price Rs 920: Yes Securities

Yes Securities has buy call on SBI Cards and Payment Services Ltd. with a target price of Rs 920. The current market price of SBI Cards and Payment Services is Rs 863.55. 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 81454.56 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
After losing 33 per cent from the October month’s high, the stock has defended levels of 800 on a closing basis. Positive follow-up action to today’s large bullish candle could mean that the stock is due for mean reversion. Hence, buying is recommended near Rs 860 for a possible upside target of Rs 960.

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.