SBI Card: Analysts see more upside given distribution network, biz model

As SBI Card is the largest pure credit-card issuer in India, analysts expect the company to grow faster than the sector average

The outbreak of Covid-19 pandemic has changed the way people across the globe make payments, and especially in India. From an outright cash-based economy, India is switching to UPI (Unified Payments Interface)-based payments to avoid having physical contact. This has proven to be a blessing for SBI Card and Payment Company that got listed a week before the nationwide lockdown was imposed in the country.   

The stock of State Bank of India subsidiary has staged a steady northward journey since its listing on March 16, 2020. After a minor blip on May 22, when it touched its 52-week low