Equity Alert: Opto Circuits shares up 1% on bonus share issue

[K.Karthik Raja]

Equity Alert: Opto Circuits shares up 1% on bonus share issue
MUMBAI--11:30AM--Shares of Opto Circuits India were up nearly
1.00%
at 348.75 rupees in an otherwise flat market on news of a 7-for-10
bonus
share issue.
The company board recommended the bonus issue after market hours
Tuesday while announcing its earnings for 2007-08 (Apr-Mar).
Opto Circuits shares surged 7.70% on the news today and touched an
intraday high of 372.90 rupees.
Immediate support for the stock is seen at 344 rupees, while
resistance
is seen at 374 rupees, a technical analyst with Angel Broking said.
The company told CNBC TV18 today it would sustain its growth
momentum in
2008-09 and revenues from its recent acquisition of U.S.-based
Criticare
Systems would reflect in its books from this financial year.
So far, 184,185 shares of the company have been traded on NSE
today.
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