SBI Card stock today closed above the psychological level of ₹ 900. SBI Card share has seen a rise of 1.55% today. With this, the stock closed at ₹ 907.35 paise.
For the past few days, there was a continuous decline in the stock of SBI Card. Today it has definitely taken a bit of a hit. Talking about the last 1 month, the stock of SBI Card has broken up to 9.17%. However, now experts are also expecting it to improve.
SBI Card shares closed today above the scientific psychological level of ₹ 900
Talking about SBI Card stock today, it has closed above the psychological level of ₹ 900. SBI Card shares closed today at ₹907.35 paise.
For information, let us tell you that SBI Cards and Payment Solution is the largest credit card holder company in the country. This SBI card company has more than 68% customers in the country. Next comes the numbers of ICICI Bank and HDFC Bank.
Still no competition is visible in the market for SBI Card. Although ICICI Bank and HDFC Bank have increased the number of their customers. But there is still a great distance between them. In the coming times, if the economy remains good, then the number of customers of SBI Cards can be seen to increase even more. With this, the share votes of SBI Cards can go higher.
SBI Card has been successful in giving cashback offer
SBI Card keeps on giving cashback offers to its customers from time to time. SBI Card is the only credit card in the government sector on which you get to see continuous cashback offers. Then whether it is a sale running on Flipkart or Amazon or a sale running on an offline store. You get to see cashback offers everywhere on SBI cards.
You get to see offers on SBI card even on the rising inflation of petrol and diesel. Due to this, SBI Card seems to be benefiting a lot. Whereas no other public sector bank in India is able to provide such benefits to its credit card holders. However, now other public sector banks have also started trying this method. But still they do not seem to be successful.
SBI Card has also been at the fore in providing digital solutions to its customers. SBI Card is always offering you cashback through YONO app. Because of which customers are connected to it. SBI Card seems to be running on the same strategy in the future as well. In such a situation, if you have shares of SBI Card, then you can benefit in the long term.
Talking about offers on credit cards, HDFC and ICICI Bank are also continuously offering cashback to their customers. Due to which the number of credit card holders of both the banks is increasing. But the number of customers of Government SBI Card Payment Solutions is still very high.
How will the future of SBI Cards share price?
SBI Cards recently announced that it will now charge its customers on payments. Due to this the card did not remain completely free for its customers. Whereas all other banks and credit companies are providing credit cards to their customers for free. After this announcement, the stock of SBI Cards has seen a significant decline. However, now this decline seems to be stopping.
Experts say that once again SBI Card shares can go above the psychological level of ₹ 1000. In such a situation, the shareholders of SBI Cards can get good benefits in the coming days.
Keep SBI Cards shares for long
At the same time, experts also say that if you keep the shares of SBI Cards with you for a long time, then you can get good returns in it. On the other hand, experts say that due to being a government company, its movement can be slow now.
On the other hand, Express says that investor confidence in SBI Card stock is slowly returning. And it may take some time for it to become stable. But if you look at the long-term perspective, then you can get good returns from SBI Card.