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Karvy recommends to buy Opto Circuits at Rs 243

By SiliconIndia   |   Friday, June 26, 2009   |    1 Comments
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Bangalore: With the expectation that the launch of new products will give a technology advantage to the company, Karvi Stock Broking has maintained its buy rating on Opto Circuits (OPTOCIRCUI) with a price target of Rs 243. Karvi maintains the consolidated net sales and net profit estimates for FY10 to be Rs 11,140 million and Rs 2,492 million respectively. With the recommended target price, if the stock is bought at today's closing price of Rs 160.55, the percentage of gain would be 51.35 percent. The stock price chart for the last year is on the left. Opto Circuits is engaged in the design, development, manufacture and marketing of medical electronic devices and health care products. Its range of products includes, pulse oximeters, pulse oximeter sensors, fluid warmers, cholesterol monitors and stents. In April 2008, Opto Circuits announced the acquisition of Criticare Systems, a U.S. based medical device manufacturer. According to Karvy, the fourth quarter of 2009 results of Opto Circuits was slightly below its expectations in terms of net sales and above its expectations in terms of net profit. The launch of new products from Criticare and Eurocor, which led to improve the volume and realization growth of its product, will benefit the company.
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Reader's comments(1)
1: These kind of companies can grow as the demand for healthcare devices and products is on the rise.
Posted by:Fernando - 26 Jun, 2009
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