Career Point erases gains; falls 1.54 pc on BSE

MUMBAI: Reversing its earlier gains, shares of Career Point Infosystems on Thursday plunged 1.54 per cent on the Bombay Stock Exchange on profit-booking by investors.

Shares of the Kota-based tutorial services provider, that saw a spectacular debut and had given more than double returns to its shareholders on its first trading session, today settled 1.54 per cent lower at Rs 622.60 on the BSE.

Marketmen said that the scrip pared its gains because investors preferred booking profits as it had already seen a huge run-up on the bourses.

Shares of Career Point, however had opened on a firm note, but later heavy selling dragged the counter as much as over six per cent during the trade.

Yesterday, shares of Career Point had settled the day with a whopping gain of 104 per cent on the BSE. Analysts believe that it was one of the best listings in the recent times after the powerpacked debut of Mundra Port in November 2007.

However, on the National Stock Exchange, shares of the company maintained its strength and slipped marginally by 0.1 per cent to Rs 628.75. In terms of volume, about 1.95 crore shares of the company were traded on the bourses.

Meanwhile, the broader gauge Sensex also ended weak at 20,315.32, shedding 227.76 points from previous close.