SBI Card listing: After making a tepid debut at a discount of over 12%, SBI Card has made some gains. The pre-opening price of SBI Card settled at Rs 661 and from there the recovery started.

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Zee Business Managing Editor Anil Singhvi has told investors not to panic or become fearful as the stock has strong potential. He further suggests investors to invest in single lots. A loss of Rs 500 -600 at this point in time is not a big loss, he said. Importantly, going forward, he said that investors should remain invested in SBI Card stock. Singhvi said that the losses will most likely be recovered if investors remain invested.

Hear Zee Business Managing Editor Anil Singhvi's views on SBI Card IPO Listing

He also said that if investors are really fearing a further decline in the SBI Card share price then they should book profit and exit. Singhvi stressed that the company (SBI Cards & Payments Services Ltd) is good.

The SBI Card share price was trading at Rs 734 on the BSE, up 11.55% from the listing price while 2.78% below the issue price of Rs 755.  

Sharing Anil Singhvi's optimism was Technical analyst Nilesh Jain of Anand Rathi Securities who did not see a below-par listing price as a worrying development for investors. He said that though the markets fell sharply at the opening and that played a part when SBI Card was listed. He added that the indications for the day look positive for SBI Card share price. SHares have almost recovered since the time of listing.

Jain said that the stock was subscribed at a premium of 60 per cent initially and that has been factored in as the prices have corrected. He added that the company is strong with a large market share and that will definitely play a positive role in the growth of the shares too.

He also does not see any panic selling of the SBI Card stock even if the markets continue a downward trend for some more time. Jain said that he will not be surprised if the stock price goes up to Rs 780-790 by the end of the trading session today.

He recommends a buy on the stock at around Rs 680 levels. The technical analyst also expects the stock to attain levels of Rs 830-840 over a week period.

The SBI Card IPO opened on March 2, comprising a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale where promoters will offload nearly 13 crore shares. Promoters SBI and Carlyle Group will offload 3.73 cr shares and 9.32 cr shares respectively.

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The RS 10000 crore IPO of SBI Cards and Payment Services Ltd, India's largest IPO in over two years, was subscribed over 26 times and had closed on 5 March. Meanwhile. The QIB category was subscribed 57.18 times while retail over two times.