Shares of Affle (India) surged 17 per cent to Rs 1,426 in the intra-day trade on the BSE on Wednesday after the company announced filing of 14 patents in Singapore and the United States (US).
The stock, which was trading at its highest level since its listing on August 8, 2019, has appreciated by 91 per cent as against the issue price of Rs 745 per share.
“The company has filed 4 new patent applications in Singapore in the areas of conversational marketing and vernacular and voice-based intelligence,” Affle (India) said in a regulatory filing on Tuesday after market hours. READ FILING HERE
The company further added it has decided to expand the jurisdiction of its 10 patents, filed earlier in India, by filing in the patent office of the USA as well.
"With these filings, Affle has now built robust patent portfolio with 18 patents filed in India, USA and Singapore. It has 3 patents granted in the areas of consumer acceptable advertising in the USA while 15 patents are pending, out of which 1 is pending in the US covering partner pixelling for user identification; 10 are pending in the US and India covering various algorithms of digital fraud detection; and 4 are pending in Singapore in the areas of conversational marketing and vernacular and voice-based intelligence," the company said
Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagement, acquisitions and transactions through relevant mobile advertising.
At 02.21 pm, the stock was up 16 per cent at Rs 1,417 on the BSE, as compared to a 0.36 per cent rise in the S&P BSE Sensex. A combined 572,888 equity shares have changed hands on the counter on the BSE and NSE till the time of writing of this report.