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.
UDTL already has a significant presence in the Indian Oil & Gas upstream segment & is a sole supplier to major Indian oil PSUs like ONGC & OIL 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 50-80 billion.
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.
Shares of the company gained Rs 16.25 or 3.88%, to trade at Rs 435.35. The total volume of shares traded was 21,560 at the BSE (2.51 p.m, Wednesday).
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