SBI Cards jumps on FY2026 Q1 profit beat; CLSA lifts rating to "Outperform", target at Rs 730
AI Market Summary
SBI Cards reported strong FY2026 Q1 results with net profit up 19.5% y/y, driven by lower credit costs and materially improved asset quality (Gross NPA 2.04%, Net NPA 0.83%). Multiple broker upgrades, including CLSA to "Outperform" with a higher target, supported a >4% rally, though the stock remains sharply down year-to-date, indicating lingering positioning risk.
Impact level
● Low
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▲ Bullish
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SBI Cards reported a sharp improvement in FY2026 first-quarter performance, with net profit rising 19.5% year on year to Rs 66.44 billion, supported by lower credit costs. Asset quality strengthened as gross NPA eased to 2.04% and net NPA fell to 0.83%.
Brokerages responded with upgrades and higher price targets. CLSA raised the stock to "Outperform" and set a target price of Rs 730.
Shares gained more than 4% on the day after the results, though the stock remains down over 25% so far this year.
