Trident soars on securing eco friendly fabric patent

Trident Limited received a patent for Environment-Friendly Fabric and its method of Manufacturing from the United States Patent & Trademark Office, the company informed the bourses on Tuesday.

The said patent would help the company in manufacturing fabric for bath and bed products without the usage of chemically harmful fibers. It also allows the fabric to dry easily. This would bring new opportunities and drive the revenue as bath and bed products which are the highest contributors to the company’s total revenue.

Trident is the largest player in terms of Terry Towel capacity & one of the largest players in Home Textile Space in India.

The company’s 9MFY19 revenue mix comprises of Bath & Bed Linen (50 per cent), Yarn (31 per cent) and Paper (19 per cent).

Cheering the news, the stock of Trident jumped by nearly 5 per cent and made an intraday high of Rs. 68.75 per share on the BSE. At closing, the stock was trading at Rs. 67.35 per share, up by 3.06 per cent. The stock had hit its 52-week high of Rs. 75.60 on January 15, 2019 and its 52-week low of Rs. 51 on May 22, 2018 on the BSE.