Opto Circuits shares surge nearly 16%

Shares of Opto Circuits (India) soared nearly 16 per cent today after the Cabinet liberalised foreign investment policy in the medical devices sector.
Opto Circuits's stock zoomed 15.40 per cent to settle at Rs 25.85 on the BSE. During the day, it jumped 18 per cent to Rs 26.45.
At the NSE, it rose by 15.88 per cent to Rs 25.90.
Shares of Poly Medicure also went up by 1.18 per cent to Rs 909.70 at the BSE.
Moving at rapid pace, the Union Cabinet today approved key insurance and coal sector reforms which were stuck in Parliament logjam and also liberalised foreign investment policy in the medical devices sector.

A day after the conclusion of the Winter session of Parliament, the Cabinet approved promulgation of the Ordinance on Insurance Bill, re-promulgation of the Coal Ordinance and allowing up to 100 per cent FDI in medical devices in the pharmaceutical sector under the automatic route.
Liberalising of the FDI policy for the medical device segment in the pharmaceutical sector is expected to help attract more investments and boost the domestic manufacturing.