Arrow Greentech spurts after securing patent

Arrow Greentech rose 7.38% to Rs 520 at 10:03 IST on BSE after the company secured patent for manufacturing embedded water soluble film carrier in US.

The announcement was made after market hours yesterday, 22 November 2017.

Meanwhile, the S&P BSE Sensex was up 43.35 points, or 0.13% to 33,604.90.

On the BSE, 11,000 shares were traded in the counter so far, compared with average daily volumes of 12,279 shares in the past one quarter. The stock had hit a high of Rs 540.95 and a low of Rs 509.95 so far during the day. The stock hit a 52-week high of Rs 715 on 7 September 2017. The stock hit a 52-week low of Rs 417 on 22 March 2017.

 

The stock had underperformed the market over the past 30 days till 22 November 2017, falling 11.55% compared with 2.93% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.41% as against Sensex's 6.22% rise. The scrip had also underperformed the market in past one year, rising 7.44% as against Sensex's 28.83% rise.

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

Arrow Greentech (AGTL) said it has received a grant for patent titled "method of manufacturing embedded water soluble film carrier" Patent No. 9744695 dated 29 August 2017, from United States of America Patent Office.

This invention relates to a water-soluble film (WSF) system with actives embedded/entrapped therein to provide precise and desired release of pharmaceutical actives there from and its method of manufacturing for diverse applications.

On a consolidated basis, net profit of Arrow Greentech declined 43.01% to Rs 4.93 crore on 18.46% rise in net sales to Rs 14.63 crore in Q2 September 2017 overe Q2 September 2016.

Arrow Greentech (formerly known as Arrow Coated Products) is engaged in manufacturing bio-degradable water soluble film.

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