SBI Card loses credit card market share in July; InCred retains 'Reduce'

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SBI Card loses credit card market share in July; InCred retains 'Reduce' - Business Standard

Quick Summary:

InCred's target price translates into 30.7 per cent downside in the share price from previous close of Rs 721.15 per share.

Among other players, IndusInd Bank saw a slight decline of around 20 basis points to approximately 4.7 per cent, and Kotak Mahindra Bank's share fell around 40 basis points to 4 per cent.

Meanwhile, the increased scrutiny from the Reserve Bank of India (RBI) has impacted new credit card issuances, which continue to grow slowly at about 70 basis points (M-o-M).