SBI Card corrects on profit selling

SBI Cards and Payment Services fell 4.50% to Rs 956 on profit selling after a recent surge.

Shares of SBI Card surged 10.28% in the past four trading sessions.

The stock had outperformed the market over the past one month, rising 13.06% compared with 10.12% rise in the Sensex.

The scrip outperformed the market in past one quarter, jumping 28.99% as against Sensex's 10.76% rise.

The scrip had also underperformed the market in past one year, falling 5.43% as against Sensex's 7.93% rise.

On the BSE, 1.87 lakh shares were traded in the counter so far compared with average daily volumes of 81,892 shares in the past two weeks. The stock hit a high of Rs 987.95 and a low of Rs 942.90 so far during the day.

The stock hit a 52-week high of Rs 1164.65 on 1 September 2021. The stock hit a 52-week low of Rs 656.1 on 20 June 2022.

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.

SBI Cards and Payment Services' net profit soared 105.81% to Rs 626.91 crore on 31.26% rise in total income to Rs 3,262.85 crore in Q1 FY23 over Q1 FY22.

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