SBI Cards

Prime Day deals are limited to customers who have bought Amazon's paid Prime subscription

Analysts believe the company will be able to shift a larger part of the receivable mix towards EMI payments, which should help stabilise NIM

Dip in impairment losses and bad debts suppports performance, stock dips on company missing street estimates

On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base

Market participants usually opt for mid-cap or small-cap stocks. But, if one fails to pick the right stock, investment in such stocks can result into huge losses

SBI Card reported a modest quarter with net earnings impacted due to higher provisions.

Impairment losses and bad debts declined 8 per cent YoY to Rs 546 crore but was up 21 per cent sequentially.

CLOSING BELL: Tata Steel, Power Grid, Sun Pharma, Axis Bank, Bharti Airtel, Kotak Bank, M&M, HDFC, Dr Reddy's Labs, and Titan were the leading winners

Stocks to watch today: SBI Cards, Indus Towers will report July-September quarter results on Thursday, October 27; Sony India and Zee Ent plan to sell 3 Hindi channels to address anti-competition

Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before

Among consumer financiers, Mahindra & Mahindra and Cholamandalam Investment look strong on charts, while Bajaj Finance and Muthoot Finance need to overcome key hurdles for an upside, indicate charts.

SBI Cards and Payment Services (SBI Card) has raised Rs 500 crore by issuing bonds on a private placement basis. The pure-play credit card issuer said it allotted 5,000 fixed rate, unsecured, taxable and redeemable bonds on Thursday, in the nature of non-convertible debentures of Rs 10 lakh each aggregating to Rs 500 crore. The tenure of the bonds is three years and is set to mature on September 15, 2025. The bonds bear a coupon of 7.39 per cent per annum. On Thursday, shares of SBI Card closed flat at Rs 958.20 apiece on the BSE.

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

The pure-play credit card issuer SBI Card has prepared the ground for moving towards card tokenization, which is set to kick-in from October, a move aimed at protecting against fraud as well as data theft. "In terms of our preparation, readiness wise, technology wise, integration with all the networks, we are ready with all the networks like Visa, Mastercard and RuPay," Rama Mohan Rao Amara, MD & CEO, SBI Cards and Payment Services (SBI Card) told PTI on Thursday. As per the Reserve Bank of India (RBI), tokenisation refers to replacement of actual card details with an alternate code called the "token", which shall be unique for a combination of card, token requestor and device. A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing. On card tokenization, Amara said "It is a very good measure in terms of protecting the consumer interest and ensuring against any data leakage." In late June, the RBI .

SBI Cards has conquered the 200-DMA, a prime indicator of the trend for market participants, and hints of a likely 'Golden Cross' breakout with 50-DMA and 100-DMA likely to cross the 200-DMA.

Stocks to Watch: ICICI Securities, Axis Capital and Citigroup Global Markets are among the 5 investment bankers selected to manage the sale of the government's 29.53% residual stake in Hindustan Zinc

Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.

SBI Cards' market share in terms of the number of credit cards has moderated by around 10 basis points to 19.1 per cent

CLOSING BELL: The NSE Nifty50, held the crucial 16,400-mark to shut shop at 16,416, down 153 points

The fund would be raised in one or more tranches, SBI Card said in a regulatory filing