covaitraders1

SBI Cards | BUY on Close above 860

Long
NSE:SBICARD   SBI CARDS & PAYMEN
SBI Cards and Payment Services Limited (SBICPSL), incorporated in 1998 and a 69.51%-subsidiary of SBI , is a non-deposit taking systemically important non-banking finance company registered with the Reserve Bank of India. It is the second largest credit card provider in the country, with a card base of about 10.5 million as of March 31, 2020. Apart from the corporate office in Gurgaon and the registered office in New Delhi, SBICPSL has 19 branches with 140+ sourcing locations, 39,000+ sales agents, 4 call centres and over 6,000 collection agents across 140+ cities in India. The company has generated EPS of Rs 4.19 during Q1FY21 as against full year EPS of Rs 13.26 which is ~31% of full year EPS .

The stock is consolidating near its ATH and any breakout above 860 on closing basis will result in new ATH . Q2FY21 results holds the key.