Meanwhile, the BSE Sensex was down 105.79 points, or 0.54%, to 19,348.13
On BSE, 3.69 lakh shares were traded in the counter as against an average daily volume of 3.22 lakh shares in the past one quarter.
The stock hit a high of Rs 112.35 and a low of Rs 108 so far during the day. The stock had hit a 52-week high of Rs 225.38 on 17 February 2012. The stock had hit a 52-week low of Rs 97.25 on 29 November 2012.
The stock had underperformed the market over the past one month till 20 December 2012, rising 2.82% compared with the Sensex's 6.14% rise. The scrip had also underperformed the market in past one quarter, falling 15.08% as against Sensex's 6.02% gain.
The small-cap company has an equity capital of Rs 242.32 crore. Face value per share is Rs 10.
Shares of Opto Circuits (India) gained 5.96% in two trading days from Rs 105.70 on 19 December 2012. Opto Circuits (India) said the company's board of directors at its meeting held on Thursday, 20 December 2012, has approved the issue of 20 lakh convertible warrants to Vinod Ramnani at Rs 145 per convertible warrant or as per the pricing formula as stipulated in Sebi's (ICDR) Regulations 2009, which ever is higher. The announcement was made during market hours on Thursday, 20 December 2012.
The company added that the said issue is subject to satisfactory receipt of all statutory, regulatory, corporate and other approvals including shareholders through Postal Ballot, as may be required.
Vinod Ramnani is the promoter and Chairman & Managing Director of Opto Circuits (India). He owned 14.05% stake of the total promoter stake of 28.17% in Opto Circuits (India) as at 30 September 2012. The issue price of Rs 145 per convertible warrant represents a 29.46% premium over Opto Circuits (India) latest market price.
On a consolidated basis, Opto Circuits (India)'s net profit fell 4% to Rs 116.24 crore on 8% increase in net sales to Rs 607 crore in Q2 September 2012 over Q2 September 2011.
Opto Circuits (India) develops and manufactures medical equipment and interventional devices for the global markets. It is a vertically integrated multinational medical technology Group that specializes in primary, acute and critical care products. Its group companies such as Cardiac Science, Criticare, Eurocor, Mediaid, AMDL and Unetixs Vascular are leaders in cardiac and vital signs monitors, emergency cardiac care equipment, vascular treatments and sensing technologies. Its products are marketed in more than 150 countries and sold through direct and indirect sales channels across many emerging and developing economies.
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