SBI Cards shares drop 7% post Q2 earnings
Shares of SBI Cards slipped 7% to hit a low of ₹732.05 on the BSE.
Shares of SBI Cards slipped 7% to hit a low of ₹732.05 on the BSE.
Reacting to Q2 results, SBI Cards opened 2.2% lower at ₹839, while it declined 6.7% to hit a low of ₹800 on the BSE.
TCS will accelerate SBI Cards’ next leg of digital transformation, and further expand its e-card issuance.
CA Rover Holdings, a Carlyle Group firm, held a 3.09% stake, or 2.92 crore equity shares, in the credit card issuer.
The BSE Sensex and the NSE Nifty are set to open higher on Wednesday, tracking firm trading in Asian markets and rally in Wall Street overnight.
The BSE Sensex and the NSE Nifty are expected to see a gap-down opening on Tuesday, tracking weak global cues and negative trends on SGX Nifty.
The BSE Sensex and the NSE Nifty are poised to open lower on Monday as stocks slumped on Wall Street and in Asia, while trends on SGX Nifty also indicated a gap-down opening for domestic bourses.
Analysts and bankers believe that the high quality retail banking division will get a raft of suitors.
The S&P BSE Sensex crashed over 2,700 points as the global selloff intensified. SBI Cards suffered a big blow and its shares listed at a discount of 13% amid widespread panic on Dalal Street.
Despite posting a loss of Rs 7,718 crore for the quarter ended March, SBI said next year would be a happy one and that it would look to unlock more value from its subsidiaries soon.