Opto Circuits India Ltd Stock Quotes and Charts
Opto Circuits (India) Limited has informed the Exchange<br>that: The Company has recommended payment of 50% Dividend, subject to Share Holders approval in the Annual General Meeting. Further, the Company has recommended to issue Bonus Shares of 7 shares for every 10 shares held, subject to Share Holders approval in the Annual General Meeting.<br>
Healthcare equipment maker Opto Circuits has acquired an unnamed European company for over $100 million. This would be Opto`s biggest overseas acquisition. Informing the BSE about its acquisition Opto said that the privately held company is involved in manufacturing medical equipments. It also said that it has signed a non binding letter of Intent (LOI) for the proposed purchase with the target company. Opto is also plannning to raise up to Rs 1,000 crore ($250 million) to fund its acquisitions and retire its debt. The company will seek shareholders approval regarding this at the AGM on September 30.<br>For FY08, Opto reported net profits of Rs 132.39 crore, up by 80% over revenues of Rs 468 crore. The company has several overeas acquisitions under its belt. Earlier this year it acquired US-based Criticare Systems, a non-invasive medical devices manufacturer, for $70 million. It raised a debt of $52 million for this acquisition. Opto also acquired EuroCOR GmbH of Germany, a company that designs and manufactures various kinds of stents, for around $15 million in 2005. It had also acquired patient monitoring division of Palco Labs, USA in 2003 and renamed the same as MediAid Inc. <br>Opto has a manufacturing & R&D facility at Electronics City, Bangalore. Opto`s shares are currently trading at Rs 295, nearly half of its 52-week low of Rs 580, and has a market capitalisation of Rs 290 crore.
Buy only in the region 200-202 with a stop loss<br>below 198 for an intra-day target of 207 and 210<br><br>For More intra-day opportunities will be provided<br>live during the market hours.<br><br>For more details Contact : +91 9822226867
Opto Circuits` US-based subsidiary Criticare Systems Inc. will launch three new products in the non-invasive category. Stock is expected to do well. Hold at current price of Rs 195.
<b>Buy@ Rs 215 For target of Rs 250 In 1 Month.</b><br><br>Sharekhan has recommended a `Buy` on Opto Circuits (Q,N,C,F)* with a price target of Rs 250 as against the market price (CMP) of Rs 218 in its report dated Feb. 02, 2010.<br>``Opto`s Q3FY2010 performance was in line with our estimates, as the base effect of the consolidation of the low-margin Criticare acquisition is gaining visibility in the top line numbers. The growth in the third quarter was largely organic as compared with the supernormal runrate of 75-80% inorganic growth. We expect multiple factors, including decline in the global stents market and dominance of larger players, to keep the invasive segment`s growth tepid (we expect a 5% CAGR over FY2010-12E). Also, the elongated process of the US Food and Drug Administration (USFDA) approval for its invasive products (we have been expecting DIOR approval since long) has prevented a smooth pick-up in the invasive segment in the near term. We expect the non-invasive segment to continue to dominate the revenue mix, with its FY2012 revenue share expected at about 84%.<br>Opto`s growth is likely to be driven by the non-invasive businesses in the near to medium term. The company has been trying to get the USFDA`s approval for its invasive products (DIOR—USFDA approval expected in December 2010), which, if it comes through, could be a re-rating factor for the stock. We maintain our positive outlook on Opto, as we like its niche business model with high margins, strong capital efficiency and high entry barriers. We continue to value Opto using the dividend discount model. At the current market price of Rs218, Opto is trading at compelling valuations of 16.1times FY2010E fully diluted earnings and of 12.3 times FY2011E fully diluted earnings. We maintain our Buy recommendation on the stock with a revised price target of Rs250,`` the broking house said.
this stock will bounce back in the next week to 245, please go head company might go for bonus also, plesae go through bonus history regular interval company is going to pay bonus (last year not paid) hence this year may be chance
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