United Drilling Tools zooms on getting registration for design patents in United Kingdom

United Drilling Tools is currently trading at Rs. 445.00, up by 25.90 points or 6.18% from its previous closing of Rs. 419.10 on the BSE.

The scrip opened at Rs. 427.00 and has touched a high and low of Rs. 449.00 and Rs. 402.95 respectively. So far 18857 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 504.45 on 19-Oct-2021 and a 52 week low of Rs. 242.05 on 09-Mar-2021.

Last one week high and low of the scrip stood at Rs. 449.00 and Rs. 371.90 respectively. The current market cap of the company is Rs. 876.49 crore.

The promoters holding in the company stood at 74.65%, while Institutions and Non-Institutions held 0.40% and 24.95% respectively.

United Drilling Tools (UDTL) has received registration for design patents in United Kingdom for their Multi-Start Casing Pipe Connectors, Metal to Metal Seal Casing Pipe Connectors and Weight Set Casing Pipe Connectors which is valid for a period of 5 years.

UDTL has been manufacturing & supplying these connectors with trade name as UDT Leopard, UDT Swift and UDT Lynx connectors from last 15 years and is the only manufacturer of these connectors in India. Now the recent design patent registrations in United Kingdom will provide much greater opportunity for the company to market & supply their products in the global market which is currently approximately Rs 5000-8000 crore.

So far, the company has 13 design patents registered, 8 in India & 5 in UK and another 5 awaiting for registration process. The company has 20 registered trademarks whereas it has also applied for 9 patents.

United Drilling Tools is one of the leading manufacturer of downhole tools, handling tools, gas lift equipments, wire line & well service equipment in the world.

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