Bajaj Electricals has entered into a Trademark Licence Agreement with Morphy Richards Limited of United Kingdom to renew the exclusive license for use of trademark "Morphy Richards" by the company in relation to the products procured from the manufacturers and/or imported from any other country for marketing the same in India and other countries, for a further period of five (5) years from April 25, 2017, on payment of royalty.

The company has been procuring the products from the manufacturers and/or importing from any other country for marketing the same in India under the License User Agreement since April 2002 and has established the brand well in the premium segment. With the renewal of license, the Company would be able to leverage its brand positioning in Indian markets as well as SAARC countries to further consolidate and gain a considerable market share.

Shares of the company gained Rs 0.15, or 0.06%, to trade at Rs 258.80. The total volume of shares traded was 34,079 at the BSE (1.32 p.m., Tuesday).