is the second largest credit card issuer in India. It offers various types of credit cards considering the need of retail clients (viz. Lifestyle Cards, Rewards, Shopping, Travel and Fuel). It also offers corporate cards and is the largest co-brand credit card issuer in India. It also issues card in partnership with smaller or regional banks.
Axis Capital in January-March quarter (Q4FY20) results preview said that the segments like credit cards, two-wheeler finance, auto/ consumer durable finance (which requires presence at dealerships/ stores) are likely to slow down significantly.
Meanwhile, domestic mutual funds and foreign portfolio investors (FPIs) have increased their stake in SBI Cards post its listing. Total holding of institutional investors rose by 1.78 per centage points to 7.86 per cent as on March 31, 2020. They held 6.08 per cent stake as on March 16, 2020, the shareholding pattern data shows.
Mutual funds holding in SBI Cards increased to 3.04 per cent from 1.6 per cent and of FPIs to 4.07 per cent from 3.53 per cent. Individual shareholders, however, reduced their stake in the company to 5.57 per cent from 7.33 per cent, data shows.
At 11:54 am, SBI Cards was trading 12.5 per cent lower at Rs 520 on the BSE, against 0.66 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped nearly three-fold with a combined 11.5 million shares changing hands on the BSE and NSE so far.