SBI Cards and Payment Services fell 4.62% to Rs 1022.15 after series of bulk deals in early trade.
On the BSE, 13 lakh shares were traded on the counter compared with the average daily volume of 2.24 lakh shares in the past two weeks.On the NSE, 3.66 crore shares were traded on the counter compared with the average daily volume of 88.62 lakh shares in the past one quarter.
The media reported that US private equity fund CA Rover Holdings, an affiliate of Carlyle Asia Partners, is selling 3.2 crore shares, or 3.4% stake, in SBI Cards and Payment Services worth $443 million or Rs 3,267 crore through the stock exchange platform on Tuesday.
Reports added that the sale price has been fixed at Rs 1021 to Rs 1072.30 each. The stock ended at Rs 1,071.70 on the BSE yesterday.
As of 30 June 2021, CA Rover Holdings held a 6.50% stake in the company.
The stock has fallen 5.20% in three straight sessions. The stock hit a record high of Rs 1,164.65 on 1 September 2021. It has risen 34.02% from its 52-week low of Rs 762.70 hit on 23 October 2020.
In the past one month, the stock has risen 2.04% as against 5.94% rise in the Sensex. It has jumped 24.93% in the past one year compared with 54.12% surge in the Sensex.
On the technical front, the stock's RSI (relative strength index) stood at 25.19. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day simple moving average (SMA) placed at 1072.25 and 200-day SMA at 1069.94.
SBI Cards and Payment Services (SBI Card) posted a 22.6% fall in standalone net profit to Rs 304.61 crore on 11.6% rise in total income to Rs 2,450.94 crore in Q1 FY22 over Q1 FY21.
SBI Card is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.
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