Stocks to Buy – Clean Science and Technology – share up 6% on NSE, BSE – BUY with Stop Loss in mind, says analyst; puts target price at this level

Stocks to Buy – Clean Science share price – The shares of Clean Science and Technology Limited were trading with a positive bias on Monday. It was up by almost 6 per cent or Rs 87 on the NSE at around 12:55 pm and were trading at Rs 1524. This stock has been recently listed and has given almost 70 per cent from the issue price of Rs 900.

Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking said that investors willing too take a bet on this stock can go ahead. However, he also sounded a caveat. Jain said that since the stock was listed on 19 July 2021, so there is not enough data to read the trends accurately. But, the current status looks promising, he further said.

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Since its listing, Clean Science Technology shares attained a life high of Rs 1779 on the NSE on 22 July 2021. The low stands at Rs 1422.10. The stock has traded both ways over the last 6-7 trading sessions.

Jain said that the upside is open till levels around Rs 1700. He said that the stop loss should be around Rs 1400. Investors willing to make a fresh position can do that with the stop loss in mind.   

Meanwhile, on the BSE, the stock was trading around Rs 1523, up by almost Rs 84 or 5.9 per cent. The stock opened at Rs 1472 while achieving an intraday high of Rs 1568. The intraday low is Rs 1470.

The strengths of this stock is its low debts with its ability to generate cash from the core business. The cash flow has improved over a period of two years. The profits have also improved during this period.

Among negatives, company has been facing year-on-year growing cost for long term projects according to Edelweiss analysis.