Opto Circuits (India) surged 18.41% to Rs 11 at 09:28 IST on BSE after the company and its subsidiaries bagged an order worth Rs 91 crore from Philips Health Care for various products manufactured by the Opto Group of companies.
The announcement was made after market hours yesterday, 19 December 2016.Meanwhile, the S&P BSE Sensex was up 41.47 points or 0.16% at 26,416.17
On the BSE, 5.79 lakh shares were traded on the counter so far as against the average daily volumes of 2.33 lakh shares in the past one quarter. The stock had hit a high of Rs 11.14 and a low of Rs 10.50 so far during the day. The stock had hit a 52-week high of Rs 16.84 on 6 January 2016. The stock had hit a 52-week low of Rs 8.12 on 12 February 2016. The stock had underperformed the market over the past 30 days till 19 December 2016, falling 0.75% compared with the 0.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 26.15% as against Sensex's 7.53% decline.
The small-cap company has equity capital of Rs 242.32 crore. Face value per share is Rs 10.
Vinod Ramnani, Chairman & Managing Director of Opto Circuits (India) commented that the latest long term contract helps the company in strengthening its relationship with Philips Health Care.
On consolidated basis, Opto Circuits (India) reported net loss of Rs 258.72 crore in Q2 September 2016 as against net profit of Rs 62.14 crore in Q2 September 2015. Net sales declined 40.24% to Rs 46.67 crore in Q2 September 2016 over Q2 September 2015.
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Opto Circuits (India) is a leading manufacturer of healthcare equipment in India.
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