SBI Card share price is oscillating around Rs 710 per stock level, which is around Rs 45 below the IPO (initial public offer) price. In fact, after the SBI Card IPO listing yesterday, share prices have been oscillating between Rs 690-Rs 755 levels. On the basis of that, stock market experts are advising that one should buy SBI Card shares either above Rs 755 levels or when it comes down to around Rs 650-660 per stock levels. However, they maintained that due to the Coronavirus impact, the share market is very volatile and one should keep on adding on every fall as COVID-19 virus impact would continue to haunt the global markets for at least the next three months.
Speaking on the SBI Card share price, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, “Those stock market investors who didn’t get anything during SBI Card IPO allotment can still invest, but they should wait for some correction and buy this stock at around Rs 650 to Rs 660 stock levels.”
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He said that SBI Card is a portfolio stock and investors should hold it for at least one year or above to get the maximum benefit from the latest entrant on Dalal Street. Singre said that the market has been under selloff pressure but once this pressure passes, SBI Card shares would be one of the fastest moving stocks on Indian markets.
However, on SBI Card shares, Simi Bhaumik, a SEBI registered technical equity analyst said, “I am not much bullish on the SBI shares and hence I expect some correction. SBI Card IPO listing has already taken place at a discount price and it is still unable to come above the IPO price. So, in my opinion, investors should either buy SBI Card IPO above Rs 755 levels or at around Rs 650-660 levels.”
Bhaumik also said that SBI Card is a portfolio stock and therefore, investors should buy into it for the long-term.