Share price of Newgen Software Technologies gained over 9 percent in the early trade on March 20 after the company secured another patent for its invention – integrated and automatic generation of carbon credits.
The company in a BSE release informed about the issuance of Patent Number 309368, entitled Integrated and automatic generation of carbon credits.
The patent is granted by the Indian Patent Office (Chennai) administered by the office of the Controller General of Patents, Designs & Trade Marks (CGPDTM), part of Department of Industrial Policy and Promotion under Ministry of Commerce and Industry.
The said patent is valid till June 10, 2029.
The company has filed for 44 patents till date, out of which 11 have been granted. And, there are 3 patents under examination in the US.
Diwakar Nigam, Chairman and Managing Director, Newgen Software said, “At Newgen, we have continuously strived to drive innovation across all our products. The patent recognizes our efforts and invention.”
“The invention enables organizations to manage carbon credits, thereby helping them reduce carbon footprint and encouraging environment-friendly business operations,” he added.
At 0940 hours, Newgen Software Technologies was quoting at Rs 319.70, up Rs 24.50, or 8.30 percent on the BSE.