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<ul><li>State Bank of India’s (SBI) share price is up by 6% after its second-quarter earnings showed a 52% jump in profit. </li><li>It’s currently the most active stock on the market today, along with being one of the top gainers.</li><li>Most brokerages have upgraded their outlook and target prices.</li></ul>The share price of India’s largest public-sector lender, the State Bank of India (SBI), is up by over 6% after the bank reported a 52% jump in its profits yesterday during its second-quarter earnings. “SBI reported a healthy performance in a challenging environment,” noted Motilal Oswal Securities. <div type="image" title="sbi share price" msid="79055337" hostid="261" caption="&amp;lt;p&amp;gt;SBI&amp;#39;s share price movement since 1 August 2020&amp;lt;/p&amp;gt;"></div> <div type="Article" hostid="261" msid="79039165" title="SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth" mstype="2" mssubtype="0"></div> Not only is SBI’s stock one of the most active on the market today, but it’s also the top gainer so far. In addition to its profit beating market estimates, the rally in the bank’s stock price is also partially a function of its expectations on the slippages front. “Clarification on overall stress at 2.5% of loans and Covid-19 provisions building up, the hangover of uncertainty is abating,” said ICICI Direct Securities in its review. The brokerage also pointed out that the SBI’s customer portfolio, which consists mostly of salaried and government employees, may be more resilient in paying back loans amid the pandemic. <div type="Article" hostid="261" msid="79041421" title="SBI received restructuring requests for over ₹6,000 crore in October — expects that to more than double over the next three months" mstype="2" mssubtype="0"></div> Analysts bullish on SBI <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price for SBI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹340 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹290 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹280 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹255 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹235 </td></tr></tbody></table>Source: Respective review reports Not everyone believes that SBI will be able to keep its spillages that low. “While we expect stress loans to be higher than guidance and view the low COVID provisions as a negative, we recommend Buy as we see little downside from the current valuation,” said Elara Capital in its review. Yet, most brokerages agree on one thing. SBI’s remains the best bet for recovery among public sector banks with a healthy provision coverage ratio of 71%, robust capitalisation, and improved core operating profit. SEE ALSO: <a href="https://www.businessinsider.in/policy/foreign-policy/news/donald-trump-vs-joe-biden-us-election-result-and-relations-with-india-and-pm-modi/articleshow/79022098.cms">If Joe Biden wins, he’ll be the third US president to deal with Modi — Here’s how that could play out</a> <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months</a>

SBI rallies over 6% after strong earnings with analysts pegging it to be the first to recover among public sector banks

State Bank of India (SBI), the country's largest lender, will divest over 2 per cent stake for at least ₹1,522.50 crore in its subsidiary <keyword id="80292" type="COMPANY" weightage="20" keywordseo="SBI-Life">SBI Life</keyword> to comply with the minimum public shareholding (MPS) norms, and will also decide on raising long-term fund up to USD 1.5 billion through bonds. The decisions were taken at the meeting of the executive committee of the central board (ECCB) of SBI on Thursday. "The executive committee of the central board of directors of State Bank of India approved the divestment of 2,10,00,000 equity shares constituting 2.1 per cent of our stake in SBI Life to adhere to minimum public shareholding of 25 per cent (remaining part of the bank's share for MPS) through offer for sale through stock exchange mechanism as per the regulatory prescription," SBI said in a regulatory filing. SBI Life, in a separate exchange filing, said the floor price for the stake sale by the promoter, SBI, has been fixed at ₹725 per share. The stake sale for non-retail investors will take place on Friday; and for retail investors and for non-retail investors who choose to carry forward their bids, on June 15, SBI Life said. During the second quarter of the previous financial year 2019-20, SBI had sold a certain portion in SBI Life Insurance Company that helped it record a historic net profit during the year. Besides, the bank's ECCB also approved to examine the status and decide on the USD 1.5 billion fundraising through bonds. "The executive committee of the central board in its meeting held today, on June 11, 2020, inter alia approved to examine the status and decide on long-term fundraising in single or multiple tranches up to USD 1.5 billion," the bank said in the regulatory filing. The public sector lender said the capital is proposed to be raised through public and/or private placement placement of senior unsecured notes in US dollar or any other convertible currency during FY 2020-21. On June 4, SBI said it was considering to raise up to USD 1.5 billion (about ₹11,422.5 crore) through a public offer and/or private placement of bonds. Earlier, in November, SBI raised ₹3,813.60 crore through perpetual bonds to fund its business growth. Shares of SBI closed 5.64 per cent down at ₹177.20 a piece on the BSE.

SBI Life shares will be on offer at ₹725 a piece on June 15

<ul><li>Sensex gained 0.59% to 38,273.73 points during the initial trade.</li><li> The Nifty50 rose 0.59% to 11,314.00. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Despite the mixed cues from global markets, Indian stock market opened on a positive note on Tuesday with the BSE Sensex gaining 0.59% to 38,273.73 points during the initial trade. The Nifty rose 0.59% to 11,314.00. On the Nifty50 chart, Grasim, ONGC, Eicher, Titan and UPL Limited were among the top gainers - rising as much as 5%, whereas, Indusind Bank, Tech M, JSW Steel were among the top losers. These are the top stocks that are buzzing on D-street today. Tata Motors gained nearly 2% during the morning trade <div type="image" title="Tata Motors August 18" msid="77605551" hostid="261"></div> Tata Motors gained nearly 2% during the morning trade after the company refuted claims of stake sales in its premium car segment JLR. The company said there is adequate liquidity with the company to manage its operations and capital expenditure. Yes Bank gained 3% during the early trade hours <div type="image" title="yes Bank August 18" msid="77605556" hostid="261"></div> Yes Bank shares gained 3% during the early trade hours after the bank in a notice to shareholders for the AGM said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, which can be seen as a move to retain talent. SBI Cards up over 2% <div type="image" title="SBI cards August 18" msid="77605595" hostid="261"></div> The share price of SBI Cards was trading up over 2% after the company said it raised ₹500 crore via 5.75% 2023 bonds. Bandhan Bank gains nearly 2% <div type="image" title="Bandhan Bank August 18" msid="77605647" hostid="261"></div> Bandhan Bank shares gained nearly 2% after the Reserve Bank of India (RBI) lifted the restriction regarding the remuneration of Bandhan Bank’s MD and CEO after the promoter shareholding was brought down to 40% in line with the central bank’s norms. In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI’s licensing norms for new private sector banks. Britannia gains nearly 2% during early hours of trading <div type="image" title="Britannia shares August 18" msid="77605697" hostid="261"></div> FMCG major Britannia gained nearly 2% during early hours of trading after the company said its board has declared an interim dividend of ₹83 per share for the current fiscal and approved issue of bonus debentures. Reliance Industries trades 2% higher <div type="image" title="RIL August 18" msid="77605757" hostid="261"></div> Reliance Industries shares were trading 2% higher after the Supreme Court asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance Communication’s (RCom) spectrum be not asked to pay the AGR related dues to the government. The Supreme Court will continue hearings in the AGR case today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink"> Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-byjus-investor-lightspeed-india-closes-its-third-fund-with-275-million/articleshow/77603896.cms" data-type="tilCustomLink">OYO, Byju's investor Lightspeed India closes its third fund with $275 million</a>

Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia

<ul><li>The 30-share BSE index was trading 0.80% lower; while the Nifty50 fell 97.10 points at 9:50 am. </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex tumbled over 300 points on Tuesday, led by losses in index-heavyweights Reliance Industries and Maruti, amidst negative cues from global markets and foreign fund outflows. The 30-share BSE index was trading 0.80% lower; while the Nifty50 fell 97.10 points at 9:50 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ZEE Entertainment </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td></tr></tbody></table>*as of September 22, 10:00 am GMM Pfaudler shares locked in 10% lower circuit GMM Pfaudler shares were locked in a 10% lower circuit after the promoters of the company would sell 25.71 lakh shares via offer for sale. The company has set the floor price at ₹3,500 per share, which is at a discount of 33% as of yesterday’s closing price. HSIL shares trade 5% higher The shares of HSIL Limited were trading 5% higher after the company’s board approved the proposal for buyback of fully paid-up equity shares of up to ₹70 crore worth of shares at ₹105 per share at a meeting held yesterday. SBI shares down 2% SBI shares lost 2% during the early trade hours. The country’s largest lender SBI on Monday raised ₹7,000 crores by issuing<a href="https://economictimes.indiatimes.com/markets/bonds/sbi-raises-rs-7000-cr-via-basel-iii-compliant-bonds/articleshow/78237814.cms"> Basel III compliant bonds</a>. IDBI Bank shares down 4% The shares of IDBI Bank were trading 4% lower after the bank <a href="https://www.business-standard.com/article/finance/idbi-bank-to-raise-rs-11-000-cr-through-qip-six-merchant-bankers-appointed-120092100988_1.html">appointed six investment banks</a> to raise up to ₹11,000 crore, the qualified institutional placement (QIP) in November. Indian Oil Corp shares down 3% Indian Oil Corp shares lost nearly 3% after the company said it would invest ₹17,825 crore in implementing Petrochemical and Lube Integration at its Gujarat Refinery. HDFC Bank shares nearly a percent The shares of HDFC Bank was up nearly a percent in an otherwise volatile market after the bank denied the allegations of misleading claims levelled by a US-based law firm to seek damages in a class-action suit. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/angel-broking-600-crore-ipo-opens-today-heres-what-works-for-it-and-what-doesnt/articleshow/78248335.cms" data-type="tilCustomLink">Angel Broking ₹600 crore IPO opens today: Here’s what works for it and what doesn’t</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-state-bank-of-india-gmm-pfaudler-hsil-route-mobile-muthoot-finance-manappuram-finance-cams-chemcon-and-others/articleshow/78246831.cms" data-type="tilCustomLink">Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others</a>

Top stock movers — GMM Pfaudler, SBI, RIL, HDFC Bank, IOC, IDBI and more

<ul><li>The shares of India’s second largest credit card issuer are down by over 33% since listing. </li><li>There is growing fear of default by those with credit card debt in India as coronavirus lockdown has brought business to a standstill and threatens large-scale unemployment. </li><li>However, it is backed by the country’s largest bank, which is owned by the government. </li><li>There is headroom for long-term growth as there are only 4 credit cards for every 100 persons in India. </li></ul>The over 15% fall in SBI Cards and Payments Services share price on Monday (April 13) has taken the stock to ₹505⁠— over 33% below the issue price of ₹755 a piece. Essentially, ₹10,000 invested in SBI Cards during the IPO is worth ₹6,700 now⁠, about a month after it got listed in the stock markets. The lockdown to contain the spread of Covid-19 novel coronavirus has brought business to a standstill and <a href="https://www.businessinsider.in/careers/news/over-136-million-jobs-are-at-risk-due-to-corona-lockdown-here-are-the-worst-hit-sectors/articleshow/74941658.cms" data-type="tilCustomLink" target="_blank">threatens large-scale unemployment</a>. Investors fear that this may lead to defaults by credit card owners and therefore, SBI Cards, India’s second largest credit card issuer is being dumped in the stock market. <div type="Article" hostid="261" msid="74907443" title="Top Indian banks with the biggest chunks of loans to individual borrowers⁠— and coronavirus has triggered a huge risk" mstype="2" mssubtype="0"></div> <div type="image" title="sbi cards" msid="75126478" hostid="261" caption="&amp;lt;p&amp;gt;SBI Cards share price has lost 33% of its value since its listing last month.&amp;lt;/p&amp;gt;"></div> Just about a month ago, before the coronavirus pandemic engulfed the world, the prospects seemed very robust for SBI Cards. And that was one of the reasons why some of the biggest mutual fund houses bet big money on the company in March 2020. <table style="width: 270pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:154pt">Mutual Fund House</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 116pt;">Investment in SBI Cards in March 2020</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Aditya Birla Sunlife</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> ₹134 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Axis </td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> ₹161 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Edelweiss</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹44 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">HDFC</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹666 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Kotak</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹169 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Mirae</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹117 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹81 crorre</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">LIC</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹57 crore</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">DSP </td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹25 crore</td> </tr> <tr> <td class="xl70" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">IDFC</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹17 crore</td> </tr></tbody></table>*Source: Edelweiss Firsty, it is backed by the country’s largest bank, which is owned by the government. Secondly, there is a huge headroom for long-term growth as there are only 4 credit cards for every 100 persons in India. That’s an abysmally low and the penetration level can only go up from here. <div type="image" title="credit card penetration in india (1)." msid="75126551" hostid="261" caption="&amp;lt;p&amp;gt;There is a huge headroom for long-term growth as there are only 4 credit cards for every 100 persons in India. &amp;lt;/p&amp;gt;"></div> It is expected that the total credit card spend in india would exceed ₹15 lakh crore (over $200 billion) in the next five years. And SBI Cards can corner a huge chunk of this market waiting to explode. <div type="Article" hostid="261" msid="74656454" title="SBI Cards lists on the worst possible day and its stock slips 13% on debut" mstype="2" mssubtype="0"></div> Competition India’s credit card market is controlled by four companies⁠— HDFC Bank, SBI Cards, ICICI Bank, and Axis Bank in the descending order of market share⁠— who together control two-thirds of all credit card debt. <div type="image" title="india credit card market share (1)." msid="75126578" hostid="261" caption="&amp;lt;p&amp;gt;SBI Cards is India&amp;#39;s second largest credit card issuer after HDFC Bank.&amp;lt;/p&amp;gt;"></div> Policies enabling credit card usage The Narendra Modi government has been in favour of non-cash transactions and that is a big advantage for companies like SBI Cards. “Specially e-commerce industry has helped the growth of credit card usage and spending in India which is expected to grow in near future will boost the growth of credit cards as well,” a report from KR Choksey Securities explained. <div type="image" title="digital payments." msid="75126590" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;span&amp;gt;&amp;lt;/span&amp;gt;&amp;lt;span&amp;gt;The Indian government has been in favour of non-cash transactions and that is a big advantage for companies like SBI Cards. &amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/news/country-sees-101-ipos-in-mar-quarter-median-deal-size-just-usd-1-mn/articleshow/74830032.cms" data-type="tilCustomLink" target="_blank">India sees 10 IPOs between Jan and March 2020</a> <a href="https://www.businessinsider.in/finance/news/how-to-avail-three-month-moratorium-for-sbi-emi-and-credit-cards/articleshow/74945199.cms" data-type="tilCustomLink" target="_blank">How to avail three-month moratorium for SBI EMI and credit cards</a> <a href="https://www.businessinsider.in/finance/news/how-to-register-online-for-sbi-internet-banking-using-atm-card/articleshow/75004937.cms" data-type="tilCustomLink" target="_blank">How to register online for SBI internet banking using ATM card</a>

₹10,000 invested in SBI Cards during IPO is worth about ₹6,700 now⁠— here’s why

<ul><li>In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open on a higher note. In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50. The US stocks ended the Tuesday lower as investors cheered the news of President Donald Trump leaving the hospital where he is being treated for COVID-19. The Dow Jones Industrial Average rallied 465.83 points, whereas the S&amp;P 500 gained over 1.80% on Monday. These are the stocks to watch out for during the trading session on October 6: SBI The headhunter for state-owned banks and financial institutions, the Banks Board Bureau (BBB) recommended the names of Swaminathan Janakiraman and Ashwini Kumar Tewari for the posts of managing director at State Bank of India. The country’s largest lender bank is headed by a chairman with four managing directors to assist. Also, the current SBI chairman’s tenure ends on October 7. Watch out for announcements on the change of guard at the helm of SBI as well. The shares of SBI ended 0.45% lower on Monday. HDFC and HDFC Bank The Housing finance major HDFC, in its second-quarter update ending September 30, said that its individual loan disbursements reached 95% of the level in the year-ago period, and September saw the strongest recovery since the outbreak of the COVID-19 pandemic, suggesting business is returning to pre-crisis levels. The individual loan business has continued to see a month-on-month improvement in July-September 2020, the company said in its regulatory filing. The HDFC Bank advances as of September 30 rose 16% YoY to ₹10.4 lakh crore, and the deposits increased 20% to ₹12.3 lakh crore. The shares of HDFC Ltd ended 0.46% lower yesterday, whereas HDFC Bank ended 0.50% higher. Tata Motors Tata Motors-owned subsidiary Jaguar Land Rover (JLR) reported a 12% dip in sales in the second quarter ended September 30. However, the sales improved by nearly 50% during the July-September quarter as against 74,067 units in the April-June period of the current fiscal, the company said in a statement. The shares of Tata Motors ended 0.52% higher yesterday. Britannia Industries Bakery and dairy products major Britannia Industries said its board has approved issuing bonus debentures and payment of dividend to reward its shareholders in such difficult and unprecedented times due to the coronavirus pandemic. The board approved 1 bonus debenture for 1 share held, and payment of ₹12.5/share as dividend. The shares of Britannia Industries ended 0.56% higher yesterday. Deepak Fertilisers and Petrochemicals The wholly-owned arm of Deepak Fertilisers and Petrochemicals, Smartchem Tech, raised ₹105 crore via debentures from international finance corporation. A debenture is a loan that is issued to corporates based on their reputation at a fixed rate of interest. The shares of Deepak Fertilisers and Petrochemicals ended 2.3% lower yesterday. Future Consumer Future Capital Investment, the promoter of Future Consumer, invoked pledge of 18 lakh shares from September 14-16. The shares of Future Consumer ended 4% lower on Monday. Infibeam Avenues and RIL The digital payments, e-commerce software company Infibeam Avenues has entered into a definitive agreement with Jio Platforms and its affiliates. The shares of Infibeam Avenues were locked in 5% upper circuit on Monday. Escorts The automaker Escorts has completed the acquisition of 2 crore equity shares of KAI from KBT, constituting 40% of the share capital of KAI for an aggregate value of ₹90 crore. The shares of Escorts ended 3.32% higher on Monday. Majesco The board of Majesco will consider a proposal for buyback of fully paid-up equity shares on October 8. The shares of Majesco ended 0.15% lower on Monday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tcs-shares-hit-record-high-board-to-mull-over-share-buyback-and-earnings-on-october-7/articleshow/78486980.cms" data-type="tilCustomLink">TCS' value crosses ₹10 trillion after share price rallies more than 7% ahead of earnings</a> <a href="https://www.businessinsider.in/politics/world/news/trump-tweets-that-hes-leaving-the-hospital-and-says-dont-be-afraid-of-covid-a-deadly-virus-thats-killed-over-209000-americans/articleshow/78502663.cms" data-type="tilCustomLink">Trump tweets that he's leaving the hospital and says 'don't be afraid of Covid,' a virus that's killed over 209,000 Americans</a>

Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others

<ul><li>The 30-share BSE index was trading 353 points higher, and the broader NSE Nifty climbed 0.88% on Wednesday at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Indian equity benchmark indexes rose for an eighth straight session on Wednesday, hitting record highs, driven by strong earnings reports and gains in pharmaceutical stocks. The 30-share BSE index was trading 353 points higher, and the broader NSE Nifty climbed 0.88% on Wednesday at 10:00 am. Nifty50's market cap crossed ₹100 trillion-mark for the first time, today. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr></tbody></table>*as of November 11, 9:55 am These are the top stocks in news today. NMDC shares shed 4% post shares buyback announcement State-owned NMDC lost over 4% after the board of the company approved buyback of 13.12 crore equity shares at a price of ₹105 per share for cash consideration not exceeding ₹1378.05 crore. The buyback price is at a premium of 10% to the closing price of November 10. GAIL extend gains to the second day The shares of gas transportation utility GAIL rose for the second day in a row on Wednesday. The company reported 16.5% growth in its net profit for the second quarter of the current financial year to ₹1,239 crore as compared to ₹1,065 crore profit in the corresponding period last year. Aarti Industries down 3% The shares of chemical manufacturing company Aarti Industries lost 3% after it reported a 5.46% drop in its consolidated net profit to ₹143.50 crore. The profit plunged despite 18.68% growth in its revenues to ₹1,172.64 crore. SBI gains over 2% The shares of public sector bank SBI gained over 2% after its board approved to divest over 8.5% in UTI Trustee Company. Wipro up over a percent after winning a five-year contract The shares of IT major gained over a percent after Wipro bagged a five-year contract for software engineering services fromThoughtSpot. California headquartered ThoughtSpot is a search and Artificial Intelligence-driven analytics platform that helps explore, analyse and share real-time business analytics data easily, the company said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/the-worlds-longest-flight-just-quietly-touched-down-in-new-york-heres-why-you-havent-heard-anything-about-it-/articleshow/79161300.cms" data-type="tilCustomLink">The world's longest flight just quietly touched down in New York. Here's why you haven't heard anything about it.</a> <a href="https://www.businessinsider.in/tech/news/apple-brought-back-the-iconic-and-im-a-pc-character-at-its-new-product-event/articleshow/79161458.cms" data-type="tilCustomLink">Apple brought back the iconic 'And I'm a PC' character at its new product event</a>

You Searched For "sbi share price" and got 7 results

SBI rallies over 6% after strong earnings with analysts pegging it to be the first to recover among public sector banks

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₹10,000 invested in SBI Cards during IPO is worth about ₹6,700 now⁠— here’s why

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