Opto Circuits soars over 7% on strong Q4 nos

The stock remained firm and finally ended with a gain of 7.5% at Rs 162. It has gained 22% in the past month. Around 963,830 shares were traded at the counter on the BSE today.
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(Updated at 1031 hrs)

Opto Circuits India has surged in early trades backed by strong Q4 numbers.

The stock opened Rs 5 higher at Rs 155, and soon soared to a high of Rs 165. The stock is now up nearly 8% at Rs 162. The counter has seen relatively higher volumes of around 250,000 shares as against its two-week daily average traded volume of around 301,400 shares on the BSE.

Opto Circuits yesterday reported a consolidated net profit of Rs 55.3 crore for the fourth quarter ended March 31, 2009. This is 61.4 per cent higher than the net profit in the corresponding quarter last year.

“The company currently has an order book of five months for this product due to the swine flu impact,” Vinod Ramnani, chairman & managing director, OCI, told Business Standard.