United Drilling Tools soars after receiving UK design patents

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This design patent filing is valid for a period of 5 years.

United Drilling Tools Ltd is a leading manufacturer of cable and well service equipment, gas lifting equipment, downhole tools and large outside diameter connectors. The company announced today that it has received UK design patent registration for its Multi-Starter Box Hose Connectors, Metal-to-Metal Seal Box Hose Connectors and Hose Connectors to weight box. This design patent filing is valid for a period of 5 years.

The company has been manufacturing and supplying these connectors under the trade name of UDT Leopard, UDT Swift and UDT Lynx connectors for 15 years. Being the sole manufacturer of these connectors in India, it has a strong foothold in the upstream segment of Indian oil and gas and is the sole supplier of major Indian oil power supplies like ONGC and OIL India.

Additionally, the successful UK design patent registration will provide the company with greater opportunities to market and supply its products to the global market which is currently valued at around Rs 5000-8000 crore.

As a result of this development, at 3:15 p.m. the United Drilling Tools Ltd share price was trading at Rs 441.10, an increase of 5.25% over the previous day’s closing price of Rs 419, 10 on BSE.

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