Nuvama has maintained a ‘Buy’ rating on SBI Cards while increasing the target price to ₹885 from ₹850. The brokerage noted that credit costs rose by 8% QoQ to 9.4% in Q3FY25, but the CEO remains optimistic that these costs will decline from Q4FY25 onwards.
Additionally, SBI Cards could benefit if the RBI cuts the repo rate, improving overall financial performance. The report highlights that a better asset mix is emerging, supported by a reduction in Stage 2 and Stage 3 loan compositions and improving delinquencies.
Current Market Price (CMP): ₹757.00
Disclaimer: The above information is for informational purposes only and should not be considered as financial advice. Investors are advised to conduct their own research or consult with a financial advisor before making any investment decisions
