Arrow Greentech gains after securing patent

Arrow Greentech rose 3.39% to Rs 505 at 15:28 IST on BSE after the company was granted new patent for self destructive irreversible security packaging film in the United States.

The announcement was made during trading hours today, 28 September 2016.

Meanwhile, the BSE Sensex was up 69.11 points, or 0.24%, to 28,292.81

On BSE, so far 7,439 shares were traded in the counter, compared with an average volume of 5,533 shares in the past two weeks. The stock hit a high of Rs 515 and a low of Rs 480 so far during the day. The stock hit a record high of Rs 861 on 23 December 2015. The stock hit a 52-week low of Rs 381.75 on 12 February 2016.

The small-cap company has an equity capital of Rs 11.74 crore. Face value per share is Rs 10.

Arrow Greentech said that the company has received one more United States Patent and Trademark Office (USPTO) patent grant for self destructive irreversible security packaging film from the United States Patent Office on 27 September 2016. The patent was filed through PCT route on 12 September 2006. The invention relates to a self-destructive irreversible security packaging water soluble film and method for manufacturing the same. The water soluble packaging film is embedded with various security elements, and this security feature will get destroyed irreversibly upon final usage as the whole package along with its contents, one the package is dissolved in water. This process of self destruction will control the duplication of package or alteration of the product inside the package. This invention will help in brand protection of many multinational and transnational Agro-Chemical companies, FMCG companies and cosmetic industry. Arrow Greentech hopes that this technology will lead to control of counterfeits and will ultimately benefit the society in the long run. A grant by USPTO means that company can approach the US market with more precision, Arrow Greentech said. In India, this patent has been used since last two years, by the company, it said.

Arrow Greentech (formerly known as Arrow Coated Products) is engaged in manufacturing self-adhesive vinyls, media for large format printing machines, thermal transfer ribbons for bar-coding and bio-degradable water soluble film.

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