SBI Cards and Payment Services share rise over 7% today after brokerage Macquarie expressed a bullish stance on the firm. The brokerage also said SBI Cards and Payment Services was expected to become a major beneficiary of Citigroup’s exit from retail banking operations in India.
Macquarie said the recent correction in the stock offers an excellent entry point. It gave a target price of Rs 1,050 for the share. It further said there may be a lot of interest among SBI Cards, ICICI Bank, Axis Bank, RBL Bank, IndusInd Bank, DBS and IDFC First Bank.
