06 Oct 2026, 11:09 IST
SBI Cards and Payment Services Limited
HDFC Securities · REDUCE · target INR 595
The report maintains a REDUCE rating with a revised RI-based target price of INR 595 (2.5x Sep-28 ABVPS; 16x Sep-28 EPS), citing muted growth, pressured revenue pools and steady-state RoA/RoE significantly below pre-pandemic levels despite improving asset quality.
From SBI Cards Update Oct26 HSIE, written by HDFC Securities. Orivam summarised it; the view is HDFC Securities's, not Orivam's.
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