Clean Max Enviro Energy share price rallies 7% after block deal action

Technical analyst advised investors to avoid fresh long positions for now and wait for a clear breakout above 1,400 before considering fresh buying.

Shares of Clean Max Enviro Energy Solutions rallied 7 per cent in intraday deals on Thursday, September 3, following block deals on the counter. 

 

According to data available on NSE, 1.63 million shares of the company changed hands, amounting to ₹199.31 crore. The buyers and sellers were not known immediately. 

 

Following the block deal, Clean Max Enviro Energy's share price rallied to ₹1,344.40 apiece, up 6.9 per cent as against the last closing price of ₹1,257.60. As of 9.47 AM, the stock was trading 4.14 per cent higher at ₹1,309.70 as against a 0.43 per cent rise in the NSE benchmark index Nifty 50. 

 

 

The stock had listed on the bourses on March 2, 2026, and trades 22 per cent above its initial public offer (IPO) price of ₹1053. 

 

"After a strong rally following its listing, Clean Max Enviro Energy Solutions has entered a corrective phase. The stock recently found support around the 1,170 level and has shown some recovery from there," said Harish Jujarey - AVP Equity Research at Prithvi Finmart.

 

From a technical perspective, the stock is still trading within a downward-sloping trend channel, with resistance placed around ₹1,390-1,400, he said, adding that as long as the stock remains below this zone, the overall trend is likely to remain weak. That said, a sustained breakout above 1,400 could signal a fresh uptrend.

 

Hence, he advised investors to avoid fresh long positions for now and wait for a clear breakout above 1,400 before considering fresh buying. 

 

Clean Max Enviro Q1 Results

Clean Max Enviro Energy, the largest renewable energy solutions provider for the commercial and industrial sector, posted a strong set of earnings for the April-June quarter (Q1) of the financial year 2026-27 (FY27). 

 

The revenue from operations more than doubled on a year-on-year (Y-o-Y) basis to ₹832 crore from ₹402 crore in Q1 FY26. Meanwhile, the adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) saw a 74 per cent Y-o-Y uptick to ₹494 crore. 

 

In terms of profitability, the firm swung to black during the quarter under review as it posted a net profit of ₹55 crore compared with a loss of ₹17 crore in the same quarter a year ago. 

 

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