Kennametal India Ltd renews royalty agreement with Kennametal Inc

Kennametal India Limited (the 'Company') has renewed its Royalty Agreement ('Agreement') with Kennametal Inc, Ultimate Holding Company of the Company today i.e., February 28, 2024.

By means of this agreement, Kennametal Inc would be granting a non-exclusive, world-wide license to Kennametal India, to make, have made, import, use, sell, offer to sell and market products using Kennametal Inc's Intellectual Property for the life of the Intellectual Property or for the term of this Agreement, whichever expires first.

The Company shall pay the Royalty to Kennametal Inc on a quarterly basis at a fixed percentage of the Net Sales of products sold by the Company using technology covered under this Agreement to entities other than Kennametal Inc.

Kennametal Inc would be granting a non-exclusive, world-wide license to make, have made, import, use, sell, offer to sell and market products using Kennametal Inc's Intellectual Property for the life of the Intellectual Property or for the term of this Agreement, whichever expires and the Royalty payment out flow for the said arrangement at a fixed percentage of the Net Sales of products sold by the Company which shall be on arm's length basis.

The collaboration would provide the Company an opportunity to leverage the domestic / international market with more technologically advanced products.

Shares of Kennametal India Limited was last trading in BSE at Rs. 2273.35 as compared to the previous close of Rs. 2316.55. The total number of shares traded during the day was 4499 in over 420 trades.

The stock hit an intraday high of Rs. 2340.00 and intraday low of 2255.00. The net turnover during the day was Rs. 10379244.00.

Source : Equity Bulls

Keywords

KennametalIndia INE717A01029 RoyaltyAgreement Renewal KennametalInc