Opto Circuits tumbles as HSBC Bank resorts to bulk selling of shares

Opto Circuits (India) tumbled 5.68% to Rs 12.96 at 15:12 IST on BSE as HSBC Bank (Mauritius) offloaded 13.24 lakh shares of the company at an average price of Rs 14.24 per share in a bulk deal on the NSE yesterday, 26 November 2015.

Meanwhile, the S&P BSE Sensex was up 163.21 points or 0.63% at 26,121.84.

On BSE, so far 4.93 lakh shares were traded in the counter as against average daily volume of 3 lakh shares in the past one quarter.

The stock hit a high of Rs 14.07 and a low of Rs 12.86 so far during the day. The stock had hit a 52-week low of Rs 11.08 on 9 November 2015. The stock had hit a 52-week high of Rs 27.05 on 26 December 2014.

The stock had underperformed the market over the past one month till 26 November 2015, sliding 16.98% compared with the Sensex's 5.13% fall. The scrip had also underperformed the market in past one quarter, declining 18.7% as against Sensex's 0.95% rise.

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

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 group that specializes in primary, acute and critical care products for the global markets.

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