Opto Circuits (India) surged 5.01% to Rs 12.15 at 12:56 IST on BSE after the company said its wholly owned subsidiary launched a therapy used for dialysis patients.
The announcement was made during market hours today, 12 July 2016.Meanwhile, the S&P BSE Sensex was up 118.84 points or 0.43% at 27,745.53.
The stock surged on increased volumes. On BSE, so far 20.51 lakh shares were traded in the counter as against average daily volume of 8.14 lakh shares in the past one quarter. The stock hit a high of Rs 12.49 and a low of Rs 11.85 so far during the day. The stock had hit a 52-week high of Rs 22.80 on 7 August 2015. The stock had hit a 52-week low of Rs 8.12 on 12 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 26.31% compared with Sensex's 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 18.3% as against Sensex's 10.41% rise.
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 wholly owned subsidiary Eurocor Gmbh has launched coated shunt balloon catheter used for dialysis patients which reduces re-intervention and preserves future treatment options.
On consolidated basis, Opto Circuits (India) reported net loss of Rs 32.78 crore in Q4 March 2016, higher than net loss of Rs 1.08 crore in Q4 March 2015. Net sales declined 89.7% to Rs 29.39 crore in Q4 March 2016 over Q4 March 2015.
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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