This chemical stock has crashed 15% in one month; is reversal on cards?

Clean Science and Technology had made a solid debut on Dalal Street on July 19 as the stock had listed at Rs 1,784.40 on BSE, a 98.26 per cent premium to its issue price of Rs 900

Shares of Clean Science and Technology surged 9 per cent to Rs 1,568 on the BSE in the intra-day on Monday after brokerage firm Motilal Oswal Financial Services initiated coverage on the stock with a target price of Rs 1,700, an 18 per cent upside from its previous close. The stock eventually ended at Rs 1,468 apiece, 2 per cent higher on the BSE, relative to S&P BSE Sensex's 1.4 per cent gain.

In a report dated August 30, Swarnendu Bhushan and Sarfraz Bhimani, research analysts at MOFSL assigned a 'buy' rating to the company's stock as they believe the