BUY SBI CARDS 500 SHARE ABOVE 1000 TARGET 1020/1050 SL 965
SELL SBI CARDS 500 SHARE BELOW 998 TARGET 978/948 SL 1028
SBI Cards & Payment Services shares
plunged over 6 % yesterday as Carlyle
Group was looking to sell its stake worth Rs 5000 crore in the credit card
company. About 1.9 crore shares had changed hands by noon against the daily
average of 0.8 lakh.Over 5 crore shares of the company were traded. Bulk deal
data will be released post-market hours. Total turnover stood at Rs 1907
crore at noon. On NSE, shares worth Rs 5013 crore were traded.The per share
price band decided by the seller is Rs 1,002-1,041.30, which is at a 4.7%
discount to Thursday’s closing price of Rs 1,051. The SBI Card stock has gained
over 70% in the last one year. It has risen 18 % so far in 2021.The
company's shares were listed at a steep discount over the issue price as the
Covid-19 pandemic spooked the markets in March 2020. In March last year, SBI
Cards, India’s second-largest credit card firm after HDFC, had launched its
maiden initial public offer in which
Carlyle sold a 10% stake for Rs 7000 crore, making a gain of 8.5 times
in three years.CA Rover Holdings is planning to offload 5 % stake in SBICARD.
FOR GETTING LIVE MARKET TRADING TIPS WHATSAPP ON 7772909587ЁЯУ▓
