SBI Cards, subsidiary of SBI is India’s only standalone listed credit card company. There are two revenue streams – interest on credit card outstandings and fees and commission on transactions. Adoption of credit cards and increased spending on cards is the key growth driver for the company. Based on fair valuations, excellent growth prospects, exceptional track record and pedigree of its promoter -SBI, we have a positive view on the company. Despite rising NPAs due to Covid-19 pandemic, we have an over weight rating due to a good business model, pedigree of the promoter which provides support and ready customer base for increasing subscribers – 27-07-2021 Price: 1017.35 Rating: Over Weight Recommendation : Buy
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