Similar feelings here, the likes of VISA and MASTERCARD trade at similar PE TTM. I expect SBI Card (which is focused on a growing market like India) to be given a better PE.
What I don’t understand is why is the market punishing it, and it is back to IPO price. I understand it was significantly overpriced at the time and probably correcting for that. Is there more to the story?
Invested and biased.
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