Clean Science and Technology shares plummet to 52-week low on erroneous trade
Shares of Clean Science and Technology witnessed wild swings during the early hours of trading, when, due to a punching error by a broker, a higher percentage of shares were sold by the promoter members, who had arranged to sell up to 24 per cent stake in the company.
After opening at ₹1,125 on the NSE, the share price fell nearly 5 per cent to ₹1,070.50 – a 52-week low – and after the company clarified the error to a news channel, it recovered sharply to zoom over 17 per cent, to an intra-day high of ₹1,256.80, before again falling to ₹1,135.10 in less than 30 minutes.
The shares then recovered to trade in a stable range, before losing ground towards the end of the day, to close 2.8 per cent lower.
Market sources said a broker who was handling the trade had sold double the number of shares on offer
In an exchange filing, the company explained that promoter group members, including Ashok Boob, Krishnakumar Boob and Parth Maheshwari, were planning to sell up to 24 per cent stake in the company in the morning, through certain brokers, including Spark Institutional Equities.
The company said it was informed by Spark of an error at its end due to which sell orders were punched in for a significantly higher number of shares than what it had been authorised and instructed to sell on behalf of the sellers.
“We have been given to understand that SIEPL has/ is taking immediate remedial steps to review the situation and address the matter responsibly,” said the company.
It added that the selling shareholders had confirmed that the actual sale was limited to 24 per cent stake and they were waiting for a detailed explanation from the broker concerned and the remedial steps being taken by it.
Spark, on its part, is learnt to be reviewing the trade and the error committed and addressing the issue.
The promoter group held close to 75 per cent stake in the company at the end of June 2025, exchange data showed.
Published on August 21, 2025
