SBI Card shares down 2.04% as Nifty drops
SBI Cards and Payment Services Ltd. traded 2.04 per cent down in Wednesday's trade at 01:24PM (IST). Around 27,690 shares changed hands on the counter.
The counter opened at Rs 880.05 and touched an intraday high and low of Rs 881.15 and Rs 862.0, respectively, in the session so far. The stock of SBI Cards and Payment Services Ltd. quoted a 52-week high of Rs 1028.75 and a 52-week low of Rs 690.9.
As per BSE, the total market cap of the SBI Cards and Payment Services Ltd. stood at Rs 81599.9 crore at the time of writing this report.Key Financials The company reported consolidated net sales of Rs 4046.11 crore for the quarter ended 30-Jun-2023, up 3.31 per cent from previous quarter's Rs 3916.57 crore and up 24.01 per cent from the year-ago quarter's Rs 3262.85 crore. The net profit for latest quarter stood at Rs 593.31 crore, down 5.36 per cent from the same quarter a year ago.Shareholding pattern As of 30-Jun-2023, domestic institutional investors held 11.79 per cent stake in the firm, while foreign institutional investors held 9.48 per cent and the promoters 0.0 per cent.Valuation ratio According to BSE data, the stock traded at a P/E multiple of 36.68 and a price-to-book ratio of 7.12.
A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business. SBI Cards and Payment Services Ltd.
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