Opto Circuits soars 20% on bagging Rs 91 crore contract

NEW DELHI: Shares of Opto Circuits (India) shot up nearly 20 per cent in Tuesday’s trade after the company informed BSE about a Rs 91 crore contract that the firm and its subsidiaries bagged from Philips Health Care for various products.

Chairman and Managing Director Vinod Ramnani in a filing to BSE insisted that the long-term contract would help the company strengthen its relationship with Philips Health Care.

Following the announcement, the stock climbed 19.91 per cent to hit a high of Rs 11.14 on BSE. The company recently reported a 40.24 per cent plunge in net sales to Rs 46.67.


On a consolidated basis, the company on November 25 reported a net loss of Rs 258.72 crore for September quarter compared with a net profit of Rs 62.14 crore in the same quarter last year.

The stock has underperformed the market as it has slipped 26.15 per cent in last one quarter, compared with a 7.53 per cent fall in the BSE Sensex.