As SBI is an undisputed leader in home loan business, market is expecting strong Q2FY22 SBI results. Technically, SBI share price has given fresh breakout at ₹485 and it may go up to ₹525 in short-term.
Is it good to invest in SBI Cards?
While SBI Cards is prone to some of the longer-term category disruption risks from UPI, BNPL, and potential regulations on swipe fees, the brokerage believes these will not only play out gradually but also offer adequate profitability set-offs.
SBI Cards and Payment Services fell 2.12% to Rs 908.50 after a foreign brokerage reportedly initiated coverage on the scrip with a ‘Sell’ rating and a price target of Rs 654.
Is SBI Card a good buy for long term?
The brokerage believes SBIC has strong moats to support robust long-term growth and aid gains in market share moving forward. It maintains BUY recommendation on the stock with a revised target price of Rs 1,240/share (45x FY23E EPS), implying an upside of 10% from CMP.
Centrum Broking has buy call on State Bank of India with a target price of Rs 730. The current market price of State Bank of India is Rs 493.45. Time period given by analyst is one year when State Bank of India price can reach defined target.
You can easily buy SBI shares in Groww by creating a demat account and getting the KYC documents verified online.
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Who is the promoter of SBI Card?
SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Incorporated as SBI Cards and Payment Services Private Limited (SBICPSL), SBI Card is headquartered in Gurgaon, Haryana. In December 2017, State Bank of India and The Carlyle Group acquired GE Capital`s stake in SBI Card.