SBI Cards & Payment Services Q2 Review: JPMorgan, Nuvama Cut Targets As Margin Pressure Mounts
JPMorgan and Nuvama rate stocks including SBI Cards.
· NDTV Profit
JPMorgan lowered its target price on SBI Cards to Rs 505 from Rs 588, citing muted loan growth, potential net interest margin (NIM) pressure and the likelihood of credit costs bottoming out.
The analysis
This is an Asset quality / margins event. For lenders the headline profit is the least informative line. Slippages, credit cost and margin direction determine whether the quarter is repeatable. On the day the stock is -2.8%, so the market took notice.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- Brokerage calls from JPMorgan and Nuvama, with ratings on the stocks named. The stocks: SBI Cards.
- Over three months: SBI Cards -20.2% against Financial Services -14.9% (5.3 points behind).
- At least 25% below the 52-week high: SBI Cards (42%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| SBI CardsSBICARD · Financial Services | ₹525.00 | -2.8% | -9.2% | -20.2% | -41.8% | 0.8× | — |
Financial Services
1M -8.8% · 3M -14.9%
SBI Cards
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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