Opto Circuits gains after getting back Criticare Systems

Opto Circuits (India) rose 3.17% to Rs 12.04 at 15:13 IST on BSE after the company said that its subsidiary has been successful in getting back Criticare Systems Inc USA, which was placed in Chapter 128 (Bankruptcy Court) by Aurora capital.

The announcement was made after market hours yesterday, 22 December 2015.

Meanwhile, the S&P BSE Sensex was up 268.20 points or 1.05% at 25,858.85.

On BSE, so far 20.48 lakh shares were traded in the counter as against average daily volume of 3.57 lakh shares in the past one quarter.

The stock was volatile. The stock surged as much as 7.96% at the day's high of Rs 12.60 so far during the day. The stock rose 1.97% at the day's low of Rs 11.90 so far during the day. The stock had hit a 52-week high of Rs 27.05 on 26 December 2014. The stock had hit a 52-week low of Rs 10.89 on 16 December 2015.

The stock had underperformed the market over the past one month till 22 December 2015, sliding 10.64% compared with Sensex's 1.07% fall. The scrip had also underperformed the market in past one quarter, declining 30.54% as against Sensex's 0.24% fall.

The small-cap company has equity capital of Rs 242.32 crore. Face value per share is Rs 10.

Opto Circuits (India) said that its subsidiary Opto Cardiac Care has been successful in getting back Criticare Systems Inc USA, which was placed in Chapter 128 (Bankruptcy Court) by Aurora capital, who bought the loan from the company's lender DBS bank. Criticare Systems Inc, is now back as part of the Opto Group of companies.

Meanwhile, HSBC Bank (Mauritius) offloaded 15.52 lakh shares of Opto Circuits (India) at an average price of Rs 11.91 per share in a bulk deal on the NSE yesterday, 22 December 2015.

On consolidated basis, Opto Circuits (India) reported a net loss of Rs 22.60 crore in Q2 September 2015 compared with net profit of Rs 14.15 crore in Q2 September 2014. Net sales declined 35.6% to Rs 196.99 crore in Q2 September 2015 over Q2 September 2014.

Opto Circuits (India) is a vertically integrated multinational medical technology company that specializes in primary, acute and critical care products for the global markets.

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