SBI Card shares up 0.55% as Sensex rises

Shares of SBI Cards and Payment Services Ltd. gained 0.55 per cent to Rs 721.4 in Wednesday's session as of 12:08PM (IST) even as the equity benchmark Sensex traded 122.11 points higher at 58196.79.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1028.75 and a 52-week low of Rs 656.1 on NSE. Around 18436 shares changed hands on the counter till 12:08PM (IST).

The stock opened at Rs 721.05 and has touched an intraday high and low of Rs 727.8 and Rs 717.6 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 30.37, earnings per share (EPS) of Rs 23.72 and price to book value (PB) of 10.36, while the return on equity (ROE) stood at Rs 20.84.

Promoter/ FII Holding
The promoters held 69.05 per cent stake in the company as of March 22, while FII and MF ownerships stood at 9.13 per cent and 11.67 per cent, respectively.

Key Financials
With a market capitalisation of Rs 68114.05 crore, the company operates in the Credit Card & Allied Services industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 3656.15 crore, up 5.87 per cent from the previous quarter?s Rs 3453.32 crore and up 16.45 per cent from the same quarter a year ago. The company reported net profit of Rs 509.46 crore for the latest quarter, up 32.06 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 40.71. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.