Trident skyrockets 20 per cent upon grant of patent by US office

Trident Limited announced today that it has been granted a patent for 'woven fabric with improved comfort' by United States Patent Office. This patent is expected to furnish more comfort and efficacy by refining parameters such as thermal conductivity and moisture regulation. It also gives way to the fabric to dry easily and provides smoothness and tensile strength.

The company's yarn portfolio which currently contributes to 26 per cent of its overall revenue will be further enhanced by the implementation of such patent.

The company's FY20 revenue mix comprises bath & bed linen (54 per cent), yarn (26 per cent) and paper (20 per cent). Its net sales declined by 29.58 per cent and net profit fell by 56.5 per cent, in the recent quarter Q4FY20. Trident's board has recently approved the fund raising of Rs 1,100 crore through various means.

Trident holds the largest market share in terms of terry towel capacity & is among the largest players in home textile space in India.

Riding the news wave, Trident's stock jumped almost 20 per cent and made an intraday high of Rs 5.96 on the BSE.