SBI Cards and Payment Services is currently trading at Rs. 615.40, up by 45.45 points or 7.97% from its previous closing of Rs. 569.95 on the BSE.
The scrip opened at Rs. 578.00 and has touched a high and low of Rs. 625.70 and Rs. 575.00 respectively. So far 379058 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 769.00 on 18-Mar-2020 and a 52 week low of Rs. 495.25 on 22-May-2020.
Last one week high and low of the scrip stood at Rs. 625.70 and Rs. 518.70 respectively. The current market cap of the company is Rs. 57928.94 crore.
The promoters holding in the company stood at 69.55%, while Institutions and Non-Institutions held 7.86% and 22.59% respectively.
SBI Cards & Payments Services has reported its customers continued using their credit cards during lockdown and due to the unique nature of business the average daily spends were in upwards of Rs 175 crore during May. Credit card as a product has an advantage of continuous customer engagement due to the unique nature of business.
As a result, spends on credit cards continued during lockdown through online and merchant outlets open during this period. Post relaxation of lockdown, average daily spends in the month of May 2020 is trending at over Rs 175 crore versus over Rs 290 crore for Q4FY20. However, the daily spend level in last 7 days of May is trending at over Rs 200 crore. The company is now averaging at over 60 per cent of the pre-lockdown daily average spending.
SBI Cards & Payments Services is a payment solutions provider in India.
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