Shares of Clean Science and Technology Ltd. rebounded sharply in Thursday’s trade, recovering nearly 13% from the day’s low after the company clarified that a punching error led to unusually high trading volumes in early block deals.
The stock had plunged as much as 7% in the morning session, hitting an intraday low of ₹1,070.50 on the NSE, after data showed massive equity turnover through block trades. Reports initially suggested that as much as 56% of the company’s equity had changed hands across three large trades, sparking panic among investors.
However, the company clarified that the actual block deal involved 2.5 crore shares, representing 24% of its outstanding equity, while the spike in volume was caused by a technical punching error from Spark Avendus. This explanation helped calm investor nerves, leading to a swift rebound in the stock price.
By mid-morning, shares had surged back into the green, hitting a high of ₹1,213 — almost ₹143 above its intraday low. At 9:51 AM, the stock was trading at ₹1,208, up 2.3%, making it one of the most actively traded counters on the exchange.
The incident highlights how technical glitches in execution can trigger short-term volatility, but market experts believe the company’s clarification should restore confidence in the counter.
