SBI card fixes selling for profit

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SBI cards and payment services fell 4.50% to Rs 956 on profit selling after a recent surge.

Shares of SBI Card have jumped 10.28% over the past four trading sessions.

The stock had outperformed the market over the past month, rising 13.06% against a 10.12% rise for the Sensex.

The scrip outperformed the market in the last quarter, jumping 28.99% against Sensex’s 10.76% rise.

The scrip had also underperformed the market over the past year, falling 5.43% against a rise of 7.93% for Sensex.

On BSE, 1.87 lakh shares have been traded over the counter so far, compared to average daily volumes of 81,892 shares over the past two weeks. The stock has hit a high of Rs 987.95 and a low of Rs 942.90 so far during the day.

The stock hit a 52-week high at Rs 1164.65 on September 1, 2021. The stock hit a 52-week low at Rs 656.1 on June 20, 2022.

SBI Cards and Payment Services is a non-bank financial company that offers an extensive portfolio of credit cards to individual cardholders and corporate customers.

Net profit of SBI Cards and Payment Services soared by 105.81% to Rs 626.91 crore on a 31.26% increase in total revenue to Rs 3,262.85 crore in Q1 FY23 compared to Q1 FY22.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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