SBI Card launches festive season offers; share price rises 4%

Share price of SBI Cards and Payments on Wednesday touched a new high in the intraday trade after the company unveiled festive season offers. The share price surged as much as 4 per cent and hit a new high of Rs 892 amid the otherwise weak market. The non-banking financial company which was listed on March 16 earlier this year surpassed the previous high of Rs 867.50 reached on September 30.

The shares of SBI Cards and Payments were trading at Rs 887, up 30.90 points, or 3.61 per cent on BSE at the time of reporting. While BSE Sensex is down nearly 27 points, NSE Nifty is trading lower by nearly 22 points.

SBI Card on Tuesday announced that it has kick-started festive season offers in line with the changing shopping trends and customers will be offered discounts as well as cashback across a host of brands. With over 1,000 offers across 2,000 cities, SBI Card endeavours to bring customers a rewarding shopping experience on their festive season purchases, it said in a release.

The festive offers that started from October 1, will run till November 15, 2020. "This year we have curated over 1,000 offers, with national and local merchants, both in store and online, across 2,000 cities, to enable our cardholders great benefits across all the categories," the company said.

"In addition, to make festive purchases more affordable, SBI Card customers can avail EMI purchase facility at over 1.3 lakh stores," said Ashwini Kumar Tewari, MD & CEO, SBI Card.

Equated monthly installment (EMI) at no extra cost is also available on big-ticket items with popular brands in electronics and mobiles, he said. In addition to the national offers, SBI Card has also curated several region-specific and hyperlocal offers for customers across small towns and cities.

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