The stock of Inox India surged 5% and hit an intraday high of Rs 1,247 on 11 September after the company announced that it had been granted patent rights by the Government of India’s Patents Office.

The name of the patent is Cryogenic Liquid Base Variable Temperature Cold Storage Unit and Method. 

In an exchange filing, Indox India said, “We would like to inform you that the Company has received Patent Rights from the Patents Office, Government of India titled, ‘Cryogenic Liquid Base Variable Temperature Cold Storage Unit and Method,’ bearing Patent No. 549870.”

Inox India Limited is a well-known company with its headquarters in Gujarat, specialising in the engineering, design, manufacture, and installation of systems and machines for cryogenic environments. It was originally founded in 1976 under the name Baroda Oxygen Limited, then in 1987 it became Inox India Limited.

The largest manufacturer of cryogenic equipment in India is Inox India. In addition to providing cryogenic liquid storage and transport tanks for the chemical, fertiliser, pharmaceutical, construction, energy, steel, and gas industries, it also offers a wide range of other products and services.

The company caters to several industries like healthcare, chemicals, energy, and aviation, changed its status from private limited company to private limited company in 2015 and then back to public limited company in 2022.

At 11:35 am, the shares of Inox India were trading 1.71% higher at Rs 1,210 on NSE. 

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