Opto Circuits India rises after its arm signing deal with American company

Opto Circuits India is trading in the green on the BSE after the company signed OEM agreement with American company.

The scrip is currently trading at Rs 205.50 per share, up 5.70 points or 2.85% on the BSE.

The stock opened at Rs 201 as compared to its previous close of Rs 199.80. Intraday, the counter touched a high and a low of Rs 206 and Rs 199.50.

So far, 1,29,555 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 260 on September 30, 2008 and a 52-week low of Rs 69.50 on December 2008.

The stock has gained 3.66% since past one week and 9.37% since past one month.

Opto Circuits India has announced that Criticare System Inc (CSI), the US-based wholly-owned subsidiary of the company, has inked an Original Equipment Manufacturing (OEM) contract with another American company.

Under this multi-year contract, the company will privately label its anesthesia monitor for the signed partner, as mentioned in the company’s filing with the BSE.

The agreement will leverage CSI’s unique anesthesia gas monitoring technology in applications that involve the calibration and maintenance of anesthesia equipment in some of the leading hospitals in the US, the filing added.

Waukesha-headquartered CSI manufactures state-of-the-art Pulse Oximeters, Vital Sign Monitors & Anesthesia Gas Monitors. The company has well established distributor network across the globe.

The CSI’s products address patient safety concerns and monitoring needs in anesthesia, critical care, respiratory care, transport, and outpatient care environments.

Recently, CSI signed a strategic long term agreement with a European manufacturer and distributor of medical equipment.