SBI Cards shares plunge over 6% post Q3 earnings. Here’s what brokerages recommend

January 29, 2024

Shares of SBI Cards and Payment Services plunged over 6% to the day’s low of Rs 710.50 on the BSE in Monday’s trade reacting to the not-so-optimistic view on the company’s growth outlook by a clutch of top domestic brokerages. Following SBI Card’s December quarter earnings, Motilal Oswal downgraded the stock to ‘Neutral’ while Nuvama and InCred reiterated their ‘Reduce’ ratings.

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