Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Opto Circuits to achieve a target of Rs 190 in 4-5 trading sessions.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 153.

Today, (June 30), the shares of the company opened at Rs 168 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 8.76 & 18.90 respectively. The share price has seen a 52-week high of Rs 220.37 and a low of Rs 69.50 on BSE.

Opto Circuits (India) has declared a steady growth in its standalone net profit for the three month period ended March 31, 2009.

During the period, the company’s profit increased 12.86% to Rs 402.39 million as against Rs 356.54 million during the same quarter previous year.

Net sales during the period under review surged 25.72% to Rs 1,199.17 million, where total income rose 28.06% to Rs 1,359.17 million.

The company has posted an EPS of Rs 2.49 per share during the quarter.

The company’s board announced a dividend of Rs 4 per equity share (face value of Rs 10 each) for the year 2008-2009.

While delivering the lecture at ``The India Investment Show-2009``, on June 07, Mr. B.Bhaskar, chief financial officer of Opto Circuits stated that the company will shortly roll out new products in order to measure gas, and anesthesia monitors.

The company is also introducing cardiac stents that can play an important role in avoiding cardiac surgeries..

Bangalore-based Opto Circuits India, on June 03, said that it has decided to raise up to Rs 400 crore by issuing equity shares or any other securities that are convertible into or exchangeable with the equity shares in one or more foreign currency under QIP basis.