Arrow Coated hits new high, again
Arrow Coated has been hitting the upper circuit consistently from 28th April, in anticipation of some major big ticket announcement coming in. Today the stock did not breach the upper circuit but it yet again hit a new high at Rs.79.05 and currently continues to remain strongly in the green.
This sudden spike up on interest on the counter for the past couple of days was in hopes of some ‘major’ announcement from the company and on 29th, it did. The company’s water-soluble, film-based matrix was granted a patent in the US, valid till 2027.
The company has stated that the film strips can be used to collect pathological samples for laboratories, which can then analyse the strips to verify the presence or absence of pathogens. The company presently has 30 patents in India, the US, Europe, Eurasia, Africa and Australia.