Moser Baer up on patent settlement

Moser Baer shares rose 5.23 per cent to Rs 81.55 on reports that it has settled a long-drawn licensing and patent dispute with Philips over recordable CDs and DVDs.

The settlement provides a resolution of all claims and counter claims without any admission of liability or wrongdoing by either party. The stock opened at Rs 78 (the lowest point of the day) and made an intra-day high of Rs 81.55. Total traded volumes stood at 2.48 million shares (around 4.5 times higher than its two-week average).