Opto Circuits (India) gains after opening GDR issue

Opto Circuits (India) rose 4.07% to Rs 19.20 at 10:08 IST on BSE after the company said that the issue of global depository receipts opened yesterday, 16 June 2015.

The announcement was made after market hours yesterday, 16 June 2015.

Meanwhile, the BSE Sensex was up 71.90 points, or 0.27%, to 26,758.41.

On BSE, so far 2.17 lakh shares were traded in the counter, compared with an average volume of 3.72 lakh shares in the past one quarter.

The stock hit a high of Rs 19.45 and a low of Rs 18.70 so far during the day. The stock hit a 52-week high of Rs 41.80 on 18 June 2014. The stock hit a 52-week low of Rs 17.55 on 3 June 2015.

The stock had underperformed the market over the past one month till 16 June 2015, falling 10.22% compared with 2.33% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.14% as against Sensex's 6.16% fall.

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

Opto Circuits (India) said that the global depository receipt (GDR) committee of the company, in its meeting held yesterday, 16 June 2015 has approved the opening of issue of GDRs of the company. Accordingly, the issue of GDRs of the company opened yesterday, 16 June 2015.

On a consolidated basis, net profit of Opto Circuits (India) rose 203.77% to Rs 8.05 crore on 2.94% rise in net sales to Rs 286.52 crore in Q4 March 2015 over Q4 March 2014.

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

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