SBI Cards & Payment Services Ltd is up for a third straight session in a row. The stock is quoting at Rs 850.6, up 1.27% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.64% on the day, quoting at 19947.45. The Sensex is at 66971.86, up 0.56%. SBI Cards & Payment Services Ltd has slipped around 0.48% in last one month. Meanwhile, Nifty Energy index of which SBI Cards & Payment Services Ltd is a constituent, has slipped around 3.05% in last one month and is currently quoting at 20138.1, up 0.56% on the day. The volume in the stock stood at 9.65 lakh shares today, compared to the daily average of 11.49 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 854.5, up 1.25% on the day. SBI Cards & Payment Services Ltd is down 10.44% in last one year as compared to a 11.21% spurt in NIFTY and a 9.84% spurt in the Nifty Energy index.The PE of the stock is 35.74 based on TTM earnings ending June 23.
SBI Cards has allotted 1,30,500 equity shares under ESOP on 25 August 2023. Post allotment, the paid up equity share capital has increased to Rs. 9,46,60,35,590 consisting of 94,66,03,559 equity shares of Rs. 10 each.
Rao resigned as he has been transferred back to State Bank of India, said the company.Meanwhile, the companys board has appointed Abhijit Chakravorty as managing director & CEO of the company, effective from Saturday, 12 August 2023 for a period of two years, subject to necessary approvals as may be required including approval of the shareholders.Chakravorty is a post graduate in Applied Chemistry and is a Certified Associate of the Indian Institute of Bankers (CAIIB). He is presently a deputy managing director at State Bank of India. Starting his banking career as a Probationary Officer with SBI in 1988, he has gained over 34 years of experience in Retail and Corporate Banking, Overseas Operations and IT vertical of the bank.SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.SBI Cards and Payment Services reported a 2.7% rise in net profit to Rs 596.47 crore on 29.9% jump in total income to Rs 3,916.57 crore in Q4 FY23 over Q4 FY22.Shares of SBI Cards and Payment Services rose 0.77% to Rs 841.95 on the BSE.