Trident surges over 2 per cent on receiving patent approval for fabric and its method

Trident Limited today announced that it has been granted patent approval for ‘fabric and method of manufacturing fabric’ by European Patent Office (EPO). 

Reacting to this, the stock of the company today jumped 3.96 per cent and made an intraday high of Rs 14.95 per share. 

The company reported a net profit of Rs 105.25 crore in Q2FY21, a decrease of 25.32 per cent. It had reported a profit of Rs 140.94 crore in Q2FY20. The company reported net sales of Rs 1,173.98 crore for Q2FY21, a decrease of 12.51 per cent as against the net sales of Rs 1,341.87 crore for Q2FY20. 

Trident company is one of the largest terry towel & wheat straw-based paper manufacturers in the world. It operates in five major business segments namely, yarn, home textiles, paper, chemicals and captive power. It has a global presence in more than 75 countries across 6 continents. 

According to BSE data, the stock traded at a P/E multiple of 38.21 and a price-to-book ratio of 2.33. The stock has a 52-week high and a 52-week low of Rs 16.98 and Rs 3.05, respectively. 

At 12.13 pm, the stock of the company was trading at Rs 14.69, up by 2.16 per cent on BSE.