Target price for SBI Card shares: a stock market expert issues a buy call
Santosh Singh, a stock market analyst, advised purchasing shares of SBI Card. A bullish analyst on the stock, he spoke on Money9’s “Chun Chun Ke” program and said that investors could anticipate strong returns going forward since the firms seem to be doing well.
Stock Suggestions: Purchase a Share of SBI Card
The stock market expert advised buyers to purchase SBI Card shares at an equity share price of Rs 736. According to the analyst, the stock might increase to between Rs 850 and Rs 900. He recommended that the stockholders keep their stop loss at Rs 715.
Recall that on October 14, 2024, the price of an SBI Card share reached a high of Rs 1,134. But since then, the stock has been declining.
Investors intending to purchase the stock should carefully review the financials and seek advice from their financial adviser before to making any financial investments, since Santosh Singh has made it clear that he has SBOI Card shares in their portfolio.
SBI Card Q3 2023–2024 Results
Compared to Rs 3,656 crore in Q3 FY23, total income grew by 30% to Rs 4,742 crore in Q3 FY24. In Q3 FY24, finance expenses rose by 50% to Rs 695 cr, while total operating costs grew by 23% to Rs 2,426 crore.
Comparing Q3 FY24 to Q3 FY23, Total Revenue grew by 30% year-on-year (YoY) to Rs 4,742 crore. In Q3 FY24, Profit After Tax (PAT) increased by 8% YoY to Rs 549 crore from Rs 509 crore in Q3 FY23. Return on average assets (ROAA) was 4.1% in Q3 FY23, down from 4.8% in Q3 FY23.
Cards-in-force increased from Rs 1.59 crore in Q3 FY23 to Rs 1.85 crore in Q3 FY24, a 16 percent increase. In Q3 FY24, expenditures were Rs 96,860 crore, up 41% from Rs 68,835 crore in Q3 FY23.
