Moneycontrol PRO

Buy SBI Cards and Payment Services; target of Rs 1260: YES Securities

YES Securities is bullish on SBI Cards and Payment Services has recommended buy rating on the stock with a target price of Rs 1260 in its research report date July 28, 2022.

July 31, 2022 / 03:45 PM IST
Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

YES Securities' research report on SBI Cards and Payment Services


SBI Cards delivered a handsome beat of 6%/12%/24% on our Income/PPOP/PAT estimates, and it was driven by robust spends growth, uptick in revolvers’ share, contained opex intensity and a stable quality underpinning moderate credit cost. RoA and RoE stood at 7% and 31% respectively, which were a multi-year high.



Outlook


We now estimate RoA/RoE delivery of 6%/26% over FY23-24 which factors a 25 bps MDR reduction (with partial recoup through opex). Reiterate BUY with 12m PT of Rs1260.

Close

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

SBI Cards and Payment Services - 290722 - yes

Broker Research
first published: Jul 31, 2022 03:45 pm
Sections
ISO 27001 - BSI Assurance Mark