 "Wabco India weakens on increase in royalty payment")
The company in a release said that it has entered into an agreement which is on arms-length basis with M/s WABCO Europe BVBA, a related party for payment of royalty at the rate of 4% on the net sales for using the licensed intangibles and technical knowhow.
Currently, Wabco India is paying royalty at the rate of 1% of domestic sales for using the brand name.
The stock opened at Rs 5,823 and touched a high of Rs 5,886. At 11:10am, over 33,000 shares were traded on both the stock exchanges.
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