Shares of SBI Cards (NSE: SBICARD) saw a notable increase in early trading today, rising by 3.88% to ₹797.50 as of 9:45 AM. This surge follows Goldman Sachs’ recent upgrade of the company to a “Buy” rating and a significant raise in the target price to ₹913.
The stock opened at ₹779.05 and hit an intraday high of ₹800.90. It had previously closed at ₹767.70. The positive momentum reflects investor enthusiasm in response to Goldman Sachs’ improved outlook for SBI Cards, which includes expectations of better credit cost management and an improved cost-to-income ratio.
Goldman Sachs’ upgrade highlights the anticipated peak in credit costs and potential gains from industry consolidation, boosting investor confidence and driving the stock’s upward movement.
