Short sellers likely to get trapped
Career Point Infosystems Limited which had launched its IPO to raise Rs 115 crs in a price band of Rs 295-310 listed on Wednesday the 6th of October. The share listed at the BSE training institute and it was in the fitness of things that a company which is involved in teaching listed in a classroom. The issue had received excellent response and was oversubscribed an overall of over 47 times with HNI’s subscribing to the issue over 100 times.
The issue was priced at the upper band of Rs 310 and had also made an allocation of 6.56 lakh shares to anchor Investors. The total issue size was 37,09,667 shares. The share opened for trading at Rs 461 on the BSE and Rs 461.10 on the NSE. The lows of the same were Rs 450 on the BSE and Rs 436.10 on the NSE respectively. Till the time of writing this article at 2 pm the highs were Rs 609.95 on the BSE and Rs 610 on the NSE respectively.
| Exchange |
Open |
High |
Low |
Close |
Net Change |
% gain |
Volume |
Wt Avg |
| BSE |
461.00 |
609.95 |
450.00 |
594.50 |
284.50 |
91.77 |
11451639 |
555.47 |
| NSE |
461.10 |
610.00 |
436.10 |
593.55 |
283.55 |
91.47 |
16776922 |
553.84 |
| Total |
|
|
|
|
|
|
28228561 |
|
The total traded volume is 2.82 cr which is 7.6 times the IPO size. The weighted average is Rs 555 which is substantially lower than the current market price of Rs 593. The stock is up 91% making it one of the top performers in recent times. More on this stock at the end of the day.
