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Clean Max shares gain sharply after a large block deal in which over 7.2% of equity changed hands at Rs 1,363 a share

By ScoutQuest · Mon 28 Sep 2026, 10:56 AM IST · 10 min read

Heard on Live television at 10:56:14 IST.

[10:56:14] spot the local quarter since the disruption uh of the the straight of Hormuz and as a result the the spot prices have been higher ever since. All in all the street seems to be taking note of all of this. All right, we do have uh LI blenders doing well and we have GE shipping doing well as well. Both of them on the Nomura uh you know notes that have come by. It so appears that the Nomura analyst team was perhaps drinking on the ship. Jack Sparrow, that's what you think of Nigel when you think of you know people drinking on the ship. What are your thoughts? Well put, Manglam, well put, you know. Hopefully. But uh you know, speaking about the ship, the market continues to be in choppy waters, Nigel. Yes, it is wobbling a little bit, but the only good part is that we've recovered a little bit from the lows and that's led by Nifty Bank, which is about 60 70 points uh from, you know, five minutes ago where we saw the Nifty Bank cut uh go to about 1,025 points in losses. Now, it's cut its losses to about 955 points. Yeah, it appears this uh morning sell-off is a little bit excessive, at least by the look of it. But let's see whether or not it is just leverage positions that are getting out of the way. If that's the case, then probably we could be due for a bit of a bounce. But 90, next 90 minutes will be crucial in in case there is evidence of those leverage positions getting knocked off. For the time being, Manglam and myself are done on chartbusters. Stay with us because the team of trading are comes up next. 5 trillion [10:59:54] You're watching us here on Trading Hour. We come to you live from the Live TV News Channel Motilal Oswal studio. I'm Mangalam Mallu with me Hormaz Fatakia as well as Ritu Singh. We kick start a new week after seven week of seven weeks of losses with a fair amount of losses again. Today Monday we have Nifty down 300 points, the Nifty Bank down almost 1,000 points. Any sort of attempts at recovery is being sold into as well. So across the board there is selling. At some point this actually stabilizes and we see some recovery. But until that happens there is a fair amount of pain. We can see that in the broader markets. We can see that in the volatility index as well. Ritu, good morning. Good morning, Hormaz and good morning Mangalam to you as well. Yeah. Well, you know, the correction is getting deeper and deeper. You know, since the start of the month, we've lost nearly 1,200 points and most of that fall, more than half of it has come in just the last seven sessions. So it is getting, you know, steeper and steeper the fall that we're seeing. Bank Nifty is to blame as well. Are now trading with cuts of about a 1,000 points as we speak. And the market breadth shows you there are more than three stocks declining for every one stock that is advancing currently on the National Stock Exchange. Oil prices, look at that as well, back above $107 a barrel after the latest developments in West Asia. There worries about the straight of Hoormaz reopening again. There's pressure on the rupee. It is very close to that $96 marker. So that's another one to keep your eye out on. And the yields as well. They're inching up, you know, despite that relatively better than expected government borrowing program we got in the second half of on Friday. There's also the, you know, liquidity drainage. WTR that is scheduled for today open market operations all of that. But you know the pressure seems to be relentless. There's absolutely no place to hide. You know there's every pretty much every sector that is in the red. In terms of contributors, you know, Dr. Reddy and Co [11:02:54] India, the two names that are actually helping the Nifty to an extent, but other than that, HDFC, ICICI, Reliance, L&T, all of them a big drag on the front line index. Let's go across to Phomas for the key buzzers in today's trade that we should keep our eye out on. Phomas. a truncated week, but a not a very promising start to that truncated week. Now, we are at the lower end of the range that the analysts were warning of in case the Nifty breaks 22 23,000. We are now nearing 22,800. So, now the 22,800, 22,700 zone comes into play. We'll see whether there is some recovery from this 22,800 levels as we go into the monthly expiry tomorrow for the Nifty contracts. The Nifty Bank has been the principal culprit for the Nifty to be where it is all through last week and even in today's session, is trying to go towards the 56,000 mark on the upside, but right now, well below 55,000 as well. Now, at 54,500, that remains the other important level to watch on the downside for the Nifty Bank. The important factors that should have been in favor of the markets, but are not. Now, oil prices now, Brent at 107. The bond yields, the global bond yields are at 5.2, the 10 year in the US, and of course, the India bond yields as well are now nearing that Iran war highs of 7 17 7 18. That's where the 10 year in India is. Now, look at the big contributors to the Nifty fall, all of them, the banking heavyweights, HDFC, ICICI, Kotak, all of them playing their part down almost a percent and a half to 2%. Look at the news makers as well. PB Fintech continues to be in the headlines. The headline, of course, being Bernstein projecting an 91% upside, but the street not very enthused, half a percent higher on that stock off the highs of the day. Aditya Infotech is also off the days high, Clean Max is also off the days high, all of them at 1.1 up 3 to 4% and Motilal Oswal though is holding on to gains of around about 3 and a half%. No metal stocks, of course, the dollar continues to strengthen, and of course, the global metal prices also seeing a bit of a decline. Nalco, Hindustan Copper, Vedanta, all of them trading lower by a percent to 2 and a half% as well. The new listings, Hero Motors was up at a 10% circuit today, but then has come off very sharply from the highs. Now it's down 7% as we speak, ESDs a second straight lower circuit in Bilaril Engineering. The post IPO high was 550, that too has come off sharply from those levels. Now, look at stocks that are at 52 week lows. Adra Simens is down 4%, RB Infra, and look at the Nifty names as well, Tata Consumer is at a 52 week low, as is Bank of Baroda, the PSU banks bearing the brunt of the higher bond yields and of course, the the drought situation in Maharashtra also playing a part. Back to you, guys. Take that point. Thanks a lot for that. Let's talk about PB Fintech after two days of a route. The stock has seen some bit of a recovery, melioration is what one can call it. And that's on account of a couple of brokerage notes that have come by. Yash joins in with that. Yash. , the recovery that you spoke about also hasn't lasted for far too long in the trading day. Uh, but nevertheless, interesting brokerage commentary coming uh on PB Fintech today as well. Uh, to start with Kotak Institutional Equities on PB Fintech, they have [11:05:54] an ADD rating on the stock. Target price though has been cut to about Rs 1400 a share from 1875 earlier. In terms of the opinion that they express PB Fintech stock, according to them has seen a sharp correction reeling under the pressure of commission caps that are likely to reduce the take rates of the digital business. The number that they assume here is a downward thick of about 35 to 40%. Uh according to them, PB, however, will benefit from the industrywide shift in favor of low-cost digital models. Uh also, the company could find some scope for cutting expenses especially on the advertisement and promotion site. Uh they cut their estimates on the earnings by about 32 to 44%. Uh invest, this next one on PB Fintech, they have a buy rating on the stock. The target price again has been cut to about 1425 rupees per share. According to the brokerage, profit has been deferred by about two years. Uh they say that IRDI's draft regulations could defer the earnings that they had estimated earlier from 30 to 32 estimates. Uh they also estimate Policy Bazaar's insurance revenue that could decline by about 50% in 28 under the proposed regulations. Uh one another thing which is very important, which they highlight, is a key risk on the proposed requirements to provide product information without collecting customer details. Finally, Burnstein on PB Fintech, of course, Hormas very recently spoke about. Uh they have an outperform rating on the stock. Target price is 2310, a 91% upside from where the stock closed on Friday. Yeah, thanks very much for that. PB Fintech continues to be in focus as are many of the other financial names under pressure on the back of those regulatory changes that have been proposed, but let's move on. Clean Max has gained in an otherwise falling market following a large block deal. Vivek has more details on this one and joins in now. Vivek? Well, that's right, you know, very sharp recovery we saw in Clean Max, a little bit of that has been given up by the market, given a kind of intense selling pressure we've seen across the board. But, Clean Max, you know, very interesting development over here, uh, a little over 7 1/2% or 7.2% of the equity actually exchange hands uh, right as soon as market opened, uh, this particular deal was done at Rs 1,363 a share. Uh, now we access the term sheet for this particular block deal on Friday. The likely seller here is augment India Holdings, remember it's a very early investor in the company and they'd also offloaded part stake and when the IPO had come out, uh, so the block size is well over 1060 crores, a large block that, uh, Clean Max has managed to absorb quite easily. A very sharp recovery post to you've seen a bit of cooling off given the state of the market. Right, take that point. Thanks a lot for that, Vivek. Let's go across to Upasna who joins in on account of some news coming in on Borosil where they're likely to get relief from Chinese imports, as the DGTR has recommended anti-dumping duty on boro silicate kitchen glassware. Upasna? Well, DGTR has issued its final findings and recommended an anti-dumping duty on Chinese boro silicate table and kitchen glassware. Well, the final findings are considered to be positive for the

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