Despite SBI Card shares underperformance, Jefferies initiates coverage with Buy
1 year, 8 months ago

Despite SBI Card shares underperformance, Jefferies initiates coverage with Buy

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SBI Card and Payments Services, India's second-largest credit card issuer, should see 23% compound annual growth rate in card spends over FY23-26e by leveraging State Bank of India's large customer base and its wide co-branded card tie-ups, as per global brokerage Jefferies. The recent underperformance vs NIFTY likely factors in NIM concerns,” said the brokerage while initiating coverage on SBI Cards shares at Buy on strong franchise in credit cards, with a target price of ₹900 apiece. “We believe SBI Cards' underperformance vs NIFTY in the past 6 months already reflects concerns around NIM and fee headwinds. Possible caps on MDR and revolver yields, by RBI are key risks - a10 bps change in interchange fee/ revolver rates changes FY24e EPS by 10%/ 3%,” it added.

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SBI Cards, NMDC and more: ICICIdirect lists 7 stock picks for 2024
11 months, 3 weeks ago

SBI Cards, NMDC and more: ICICIdirect lists 7 stock picks for 2024

Live Mint  

Domestic equity benchmarks Sensex and Nifty 50 ended flat on the first trading of the new year 2024 while the second rung midcap and smallcap indices clocked healthy gains. 5.Greenply Industries--Target Price: ₹ 295 The company expects 8-10 per cent plywood volume growth in FY24. 6.Birla Corporation--Target Price: ₹ 1,755 On the account of new capacity addition, company’s volume growth …

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