Opto Circuits, which manufactures medical equipment and devices such as cardiac stents, has outperformed the broader markets in April, rising 22 per cent as against a 3.8 per cent gain in the BSE mid-cap index.
Shares in Opto Circuits have gained despite reports that the government will bring rules to regulate the prices of medical device industry. However, Vinod Ramnani, managing director of Opto Circuit told NDTV that price regulation will have no impact on the business of Opto Circuits.
"The pricing should be transparent and we want to bring the prices down so that people in India can afford and it will be good for us because we want to bring down prices as there are big companies selling products at higher prices and it will be a good move for the companies based out of India," Mr Ramnani said.
The company's management also sounded confident about profitability, with Mr Ramnani saying, "Currently the gross margin is at about 45-50 per cent... with new product launches and reduced raw material cost we expect to maintain healthy margins."
Making a pitch for domestic manufacturing, Mr Ramnani said, "Our products are manufactured on the lines of US technology and it makes sense to buy products based on US technology rather than buying Chinese products".
Opto Circuits, with a market cap of Rs 541 crore, traded 0.2 per cent higher as of 3:10 p.m.
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