Trident said it has secured patent for 'fitted sheet with improved gripping effect' by United States Patent Office.
The company said that the present invention provides for fitted sheet comprising of an elastic band and plurality of gripping elements secured to surface of the fitted sheet. The horizontal elastic strip is extendable laterally along the surface of the fitted sheet. The resultant force generated by the elastic band and the plurality of the gripping elements enhances gripping of the fitted sheet and prevents crumpling. The usage of the said product provides sleeping comfort to the user. The announcement was made during market hours today, 27 October 2020.
Trident's consolidated net profit tumbled 24.4% to Rs 105.69 crore in Q1 June 2020 from Rs 139.81 crore in Q1 June 2019. Net sales declined 12.4% in the September quarter to Rs 1,173.98 crore from Rs 1,340.72 crore in the corresponding period last year.
Shares of Trident was trading flat at Rs 7.82 on BSE. Punjab-based Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
The scrip has jumped 156.39% from its 52-week low of Rs 3.05 hit on 27 March 2020.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU