Opto Circuits buzzing loud

Opto Circuits has been showing a lot of activity over the past couple of days and today too, the stock price is up over 3% at Rs.25.80, its current intra day high with volumes up almost 1.5 times. The stock is a long way away from its 52-week high of Rs.44.

The stock has been in the limelight ever since news came in that the Govt is expected to soon announce a decision on easing FDI for the medical device sector. The Cabinet is anticipated to take up the issue soon.

Currently, FDI in medical devices sector is allowed through the Govt approval route and the industry wants it to be shifted under the automatic route. Those in the industry say that Indian medical devices sector is outdated and there is a desperate need to upgrade the technology. The industry, billed at around $7 billion in India, imports 70% of the devices.

Opto Circuits is a leader in vital signs monitoring,emergency cardiac care, vascular treatments and sensing technologies. It has USFDA listed and CE marked products which are sold in over 150 countries. The company has partnerships with leading OEMs and medical institutions across the value chain. It’s well known brands include Cardiac Science, Criticare Systems, Eurocor and Mediaid.