APL Apollo Tubes Limited or APL Apollo as it is known, India's leading branded steel tubes manufacturer, on Wednesday declared that it has received two more patents for product design, which makes it 8 design patents in whole, under the company’s assets. The patents cover the shape and configuration of “window frame” and “metal tube” products. These patents will be good for 10 years, and can further be extended for a period of another 5 years.
On receiving the patents, APL Apollo share price surged over 13 per cent to trade at the new lifetime high of Rs. 1089.
Sanjay Gupta, chairman of the Company, while talking about the development said that they are extremely delighted to receive design patents for two more of their product categories, which is in succession to four hollow section patents received last month. APL Apollo had received patents from the Indian Patent Office for four new designs of hollow section pipes in the month of December. The patents cover the shapes and configurations of differentiated structural products.
At 12:57 PM, APL Apollo share price was trading at Rs. 1003, up by 4.41 per cent. The stock had opened at Rs. 976, a lot higher than its previous close of Rs. 960.60. So far, over one lakh shares were traded at the NSE trading counter as compared to its twenty day average trade of a little over 64 thousand shares.
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