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Business Standard
9 hours ago
- Business
- Business Standard
Clean Science slips after broker error sparks abnormal trades; company issues clarification
Clean Science and Technology fell 2.65% to Rs 1,149.85 after a trading error triggered extraordinary volumes in the stock, unsettling investors. The mishap began at 9:16 am, when nearly 20% of the companys equity, or about 2.08 crore shares, suddenly changed hands in a block deal. The stock immediately tumbled as much as 7% in early trade. Minutes later, fresh data suggested that as much as 56% of the companys equity had been traded, sparking speculation about an outsized promoter sale. By 9:41 am, the company confirmed to the media that a punching error was behind the abnormal spike in volumes. The stock briefly staged a sharp recovery, rebounding nearly 6% higher by 9:53 am. However, the relief proved short-lived, with shares giving up gains within minutes and sliding back into the red. Later in the day, Clean Science issued a formal clarification to the exchanges, attributing the chaos to a sell-side mistake by a domestic broker. The company said promoters Ashok Boob, Krishnakumar Boob and Parth Maheshwari, along with other promoter group members, had intended to sell up to 24% of their stake through block deals, consistent with an earlier disclosure on July 17. In the July 17 filing, the promoters had informed exchanges that they were evaluating a minority stake sale, citing family estate planning and liquidity needs, while reiterating their intent to retain majority control in the company. Promoter Siddhartha Sikchi and his family had separately committed to maintain their full 19.79% holding. Post-sale, the aggregate promoter shareholding is expected to remain above 50%. As on June 2025, promoters held 74.97% stake in the company. Clean Science clarified that broker had erroneously placed sell orders for a "significantly higher number of shares" than authorised, inflating traded volumes. The broker has told the promoters it is reviewing the incident and will take remedial measures, while the promoters await a detailed explanation. Clean Science added that apart from this broker error, it is not aware of any other event or information that may have influenced price or volume behaviour in its shares. Clean Science and Technology is engaged in manufacturing and sale of various types of speciality chemicals at its manufacturing plants situated at Kurkumbh MIDC, Daund, Dist: Pune. The company caters to both domestic and international markets. On a consolidated basis, net profit of Clean Science & Technology rose 6.26% to Rs 70.06 crore while net sales rose 8.42% to Rs 242.87 crore in Q1 June 2025 over Q1 June 2024.
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Business Standard
13 hours ago
- Business
- Business Standard
Clean Science hits 52-week low, falls 9% on reports of promoter stake sale
Clean Science and Technology share price today: Shares of chemical manufacturer Clean Science and Technology fell over 9 per cent to hit a 52-week low of ₹1,070.5 on the NSE amid reports of promoters Ashok Book and Krishnakumar Boob selling a 24 per cent stake or 25.5 million shares via block deal. However, the Clean Science and Technology stock recovered the majority of the losses in the session. At 10:45 AM, the company's share price was quoting 1 per cent lower at ₹1,170 per share compared to previous day's close of ₹1,180.8 on the NSE. In comparison, NSE Nifty50 was trading almost flat, up 0.03 per cent at 25,057 levels. The market capitalisation of the company stood at ₹12,064.5 crore. The stock has plunged over 28 per cent from the 52-week high of ₹1,643.95 touched on October 3, 2024. According to media reports, the stake sale is expected to raise around ₹2,626 crore, with a floor price fixed at ₹1,030 per share, a discount of 13 per cent from the August 20 close price. JP Morgan India will act as the broker for the transaction. During the June 2025 quarter (Q1FY26) earnings call, the management had highlighted that the promoters are evaluating the possibility of selling a minority stake to support the family estate planning. As of June 30, 2025, the promoter group held a 74.97 per cent stake in Clean Science. Clean Science and Technology Q1 results In Q1FY26, the company's consolidated revenue from operations stood at ₹242.86, up 8.4 per cent year-on-year (Y-o-Y) from ₹224 crore in the year-ago period. The company reported profit after tax (PAT) of ₹70 crore, up 6.2 per cent from ₹65.9 crore in the June 2025 quarter. Clean Science's earnings before interest, tax, depreciation and amortisation (Ebitda) rose 5 per cent Y-o-Y to ₹100 crore from ₹95 crore in the year-ago period. Ebitda margin slipped to 41.7 per cent from 42.8 per cent. Post results, analysts at Motilal Oswal Financial Services (MOFSL) maintained a 'Neutral' rating on the stock with a target price of ₹1,350. The brokerage expects the company's established products, which contribute to 83 per cent of standalone sales, to continue to deliver steady growth, coupled with the commissioning of Performance Chemical 1 in Q2FY26 and Performance Chemical 2 by Q4FY26. However, MOFSL had lowered its estimates for FY26/FY27 cuts by 9 per cent each, owing to higher tax rates and expects a revenue/ Ebitda/ PAT CAGR of 23/23/27 per cent during FY25-27E.
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Business Standard
16 hours ago
- Business
- Business Standard
Clean Science hits 52-week low on reports of promoters selling 24% stake
Clean Science and Technology share price today: Shares of chemical manufacturer Clean Science and Technology fell over 9 per cent to hit a 52-week low of ₹1,070.5 on the NSE amid reports of promoters Ashok Book and Krishnakumar Boob selling a 24 per cent stake or 25.5 million shares via block deal. However, the stock recovered the majority of the losses in the session. At 10:45 AM, the company's share price was quoting 1 per cent lower at ₹1,170 per share compared to previous day's close of ₹1,180.8 on the NSE. In comparison, NSE Nifty50 was trading almost flat, up 0.03 per cent at 25,057 levels. The market capitalisation of the company stood at ₹12,064.5 crore. The stock has plunged over 28 per cent from the 52-week high of ₹1,643.95 touched on October 3, 2024. According to media reports, the stake sale is expected to raise around ₹2,626 crore, with a floor price fixed at ₹1,030 per share, a discount of 13 per cent from the August 20 close price. JP Morgan India will act as the broker for the transaction. During the June 2025 quarter (Q1FY26) earnings call, the management had highlighted that the promoters are evaluating the possibility of selling a minority stake to support the family estate planning. As of June 30, 2025, the promoter group held a 74.97 per cent stake in Clean Science. Clean Science and Technology Q1 results In Q1FY26, the company's consolidated revenue from operations stood at ₹242.86, up 8.4 per cent year-on-year (Y-o-Y) from ₹224 crore in the year-ago period. The company reported profit after tax (PAT) of ₹70 crore, up 6.2 per cent from ₹65.9 crore in the June 2025 quarter. Clean Science's earnings before interest, tax, depreciation and amortisation (Ebitda) rose 5 per cent Y-o-Y to ₹100 crore from ₹95 crore in the year-ago period. Ebitda margin slipped to 41.7 per cent from 42.8 per cent. Post results, analysts at Motilal Oswal Financial Services (MOFSL) maintained a 'Neutral' rating on the stock with a target price of ₹1,350. The brokerage expects the company's established products, which contribute to 83 per cent of standalone sales, to continue to deliver steady growth, coupled with the commissioning of Performance Chemical 1 in Q2FY26 and Performance Chemical 2 by Q4FY26. However, MOFSL had lowered its estimates for FY26/FY27 cuts by 9 per cent each, owing to higher tax rates and expects a revenue/ Ebitda/ PAT CAGR of 23/23/27 per cent during FY25-27E. JM Financial also maintained a 'Buy' with a target price of ₹1,780 per share, based on 40x Sep'27E EPS.
Time of India
18 hours ago
- Business
- Time of India
Clean Science shares in focus as promoters plan 24% stake sale worth Rs 2,626 crore
Shares of Clean Science and Technology will be in focus on Thursday as promoters Ashok Boob and Krishnakumar Boob plan to offload a 24% stake via a block deal worth Rs 2,626.50 crore. A combined 2.55 crore shares will be sold at a floor price of Rs 1,030 per share, a 12.8% discount to Wednesday's closing of Rs 1,180.8. Tired of too many ads? Remove Ads Clean Science & Technology share price history Tired of too many ads? Remove Ads About Clean Science & Technology Shares of Clean Science and Technology are set to be in the spotlight on Thursday after promoters Ashok Boob and Krishnakumar Boob announced plans to offload a 24% stake in the company through a block deal estimated at Rs 2,626.50 to a term sheet, the promoters and related entities are expected to sell a combined 2.55 crore shares in the transaction. The deal will be executed on exchanges on Thursday at a floor price of Rs 1,030 per share, representing a 12.8% discount to Wednesday's closing price of Rs 1, India will act as the broker for the of June 30, the promoter group held a 74.97% stake in Clean Science. Following the proposed sale, their holding is expected to reduce significantly, although the exact post-transaction shareholding has not been the past year, Clean Science & Technology shares have declined 24.46%, while year-to-date (YTD) performance shows a drop of 23.36%. In the last six months, the stock has fallen 9.52%, over the past three months it has slipped 6.75%, and in the last one month alone, it has dropped 10.53%.Incorporated in 2003, Clean Science and Technology is one of the leading chemical manufacturers globally. The company produces functionally critical specialty chemicals, including Performance Chemicals (MEHQ, BHA, AP), Pharmaceutical Intermediates (Guaiacol, DCC), and FMCG Chemicals (4-MAP, Anisole).
Economic Times
18 hours ago
- Business
- Economic Times
Clean Science shares in focus as promoters plan 24% stake sale worth Rs 2,626 crore
Shares of Clean Science and Technology will be in focus on Thursday as promoters Ashok Boob and Krishnakumar Boob plan to offload a 24% stake via a block deal worth Rs 2,626.50 crore. A combined 2.55 crore shares will be sold at a floor price of Rs 1,030 per share, a 12.8% discount to Wednesday's closing of Rs 1,180.8. Tired of too many ads? Remove Ads Clean Science & Technology share price history Tired of too many ads? Remove Ads About Clean Science & Technology Shares of Clean Science and Technology are set to be in the spotlight on Thursday after promoters Ashok Boob and Krishnakumar Boob announced plans to offload a 24% stake in the company through a block deal estimated at Rs 2,626.50 to a term sheet, the promoters and related entities are expected to sell a combined 2.55 crore shares in the transaction. The deal will be executed on exchanges on Thursday at a floor price of Rs 1,030 per share, representing a 12.8% discount to Wednesday's closing price of Rs 1, India will act as the broker for the of June 30, the promoter group held a 74.97% stake in Clean Science. Following the proposed sale, their holding is expected to reduce significantly, although the exact post-transaction shareholding has not been the past year, Clean Science & Technology shares have declined 24.46%, while year-to-date (YTD) performance shows a drop of 23.36%. In the last six months, the stock has fallen 9.52%, over the past three months it has slipped 6.75%, and in the last one month alone, it has dropped 10.53%.Incorporated in 2003, Clean Science and Technology is one of the leading chemical manufacturers globally. The company produces functionally critical specialty chemicals, including Performance Chemicals (MEHQ, BHA, AP), Pharmaceutical Intermediates (Guaiacol, DCC), and FMCG Chemicals (4-MAP, Anisole).
