Shares of Arrow Greentech rallied 4% on 3 January after the company announced receiving a patent for one of its products from the Indian Patent Authorities.

In its regulatory filing, the company said that it has received patent rights from Indian Patent Authorities for their patent for improved Water Soluble Film and the method for making the same. The patient is related to a high-quality water-soluble film that has enhanced properties that are enabled by super properties of nanoparticles, including but not limited to graphene.

The film has been tested to achieve excellent mechanical properties and better chemical resistance, showing better water solubility compared to the films that are currently available on the market.

The improved water-soluble film can be used in the packaging industry and is also safe for the environment, making it a favoured receiving a patent for one of its products from the Indian Patent Authorities.

These films can also be used for packaging various active ingredients, including pharma and aggressive agrochemicals, in powder and liquid formats of higher volumes.

The company is engaged in the business of manufacturing and supplying bio-degradable and high-tech products, including water-soluble films, security films, and bio-compostable products.

At 3:0 pm, the shares of Arrow Greentech shed all their early gains and closed 1.60% lower at Rs 416 on NSE.