SBI Cards - Media in sync with big players?

SBI Cards has posted flat (if not dull) Q3 FY21 numbers on last Thursday, post market hours, with flat interest income, membership fee, service charges, seen flat YoY and QoQ, Company has made higher provision of Rs. 648 crore, against Rs.376 crore YoY and Rs. 862 crore QoQ. PAT for Q3 is at Rs. 210 crore, against Rs. 435 crore YoY and Rs. 206 crore QoQ.

SBI Cards has also stated in its note number 8, that its Gross NPA would have been at 4.51% without Supreme Court dispensation, and not at 1.61% as shown in its books. This case is similar to what we have seen in case of Bandhan Bank, with both results having declared on the same day. But Media, has not repeatedly shouted on this, or even not pointed this once, resulting in share price ruling above 5% having closed at 1,030 on last Friday. Few insiders have said that big players are holding large chunk of SBI Cards, hence Media people acted in collusion with  big players, giving n exit to them, luring retail to buy it, as they get accommodated by such big players as well, SEBI having recently passed an order of unlawful money made by one Media fellow, of Rs. 3 crore, as found by SEBI on investigation of his few trades for a brief period only.

So, investors need to remain alert and must be able to smell foul play of Media. Good fundamentals of stock  will see it recovering, while dull results will amke it correct, as TRUTH and FUNDAMENTALS always win. Share fell from 1,030 to 970 in 2 trading days only, a fall of 6%. So, remember past precedents of Vedanta, UPL, Bharti Airtel, Bandhan Bank and HDFC Bank seen played dirty by Media  in the last 3-4 months.