SBI Cards m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel
Published On: Friday, February 19, 2021 | By: Team KnowMyStock
With a market-capitalisation (m-cap) of Rs 1.02 trillion, the State Bank of India-arm SBI Cards and Payment Services today(19th February 2021) stood at 34th position in the overall m-cap ranking, BSE data showed. The firm’s m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel. With the government's push towards digitalisation, coupled with developments in e-commerce and growth in POS infrastructure, India is gradually shifting towards a cashless economy. This and recovery from the Covid-19 pandemic are some of the factors fuelling the rally in the stock price, analysts say. “With the focus now on growth, SBI Cards will be an early beneficiary as the economy recovers on the back of being a play on rising discretionary spends and non-cash economy, the broad reach of parent SBI, under-utilised captive Banca potential, and leadership in co-branded cards,” says an expert.
Shares of the firm hit fresh lifetime high of Rs 1,095 apiece today, up 3 per cent on the BSE, in an otherwise weak market. From their listing price of Rs 658, the shares are now up 61.5 per cent on the BSE, while they have surged 41 per cent against the issue price of Rs 755. In comparison, the S&P BSE Sensex has leaped 63.5 per cent between March 16, 2020 (SBI Cards’ listing date) and February 18, 2021.
Tags: SBI cards Indian market
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