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Opto Circuits gains after arm launches new stent

The Sirolimus DES market is estimated to be worth Rs 800 crore annually in India

SI Reporter  |  Mumbai 

Opto Circuits (India) has moved higher by 5% at Rs 137 after its subsidiary Opto Eurocor launched its first Sirolimus Drug Eluting Stent (DES), E-MAGIC® Plus.

“With the launch of E-MAGIC® Plus, has become one of the few global players to offer DES products with a choice of two drug coatings. The Sirolimus DES market is estimated to be worth Rs 800 crore annually in India,” the company said in a filing.

Meanwhile, HSBC Global Assets Management (Singapore) has acquired an additional 466,433 shares of the medial equipment maker via open market purchase on September 7, the company said. With this acquisition, HSBC Global Assets Management’s stake in (India) has increased to 5.12%.

The stock opened at Rs 133 and has seen a combined 2.72 million shares changing hands on the counter so far on both the exchanges.

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