Opto Circuits overseas acquisition

Opto Circuits India rose 0.38% to Rs 317 at 11:05 IST on BSE after the company said it has acquired majority stake in US based Criticare Systems Inc.

The stock hit a high of Rs 317.55 and a low of Rs 311 so far during the day. The stock had a 52-week high of Rs 581 on 31 December 2007 and a 52-week low of Rs 200 on 9 April 2007.

The company’s current equity is Rs 94.17 crore. Face value per share is Rs 10.

The current price of Rs 317 discounts its Q3 December 2007 EPS of Rs 13.40 with a PE multiple of 16.97.

Opto Circuits India’s net profit rose 58.9% to Rs 31.55 crore on 63.7% growth in net sales to Rs 90.43 crore in Q3 December 2007 over Q3 December 2006.

Criticare Systems Inc. is in the business of manufacturing medical equipments such as vital sign monitors, anesthesia monitors and pulse oximeters.

The company is engaged in designing, developing, manufacturing, marketing and distributing medical electronic devices and medical monitoring products. The group operates in two segments namely health and information technology.