Opto Circuit has hit a new 52-week low today at Rs.15.25 and it continues to trade at the same low levels.

The reason for this new low is that today morning the company informed BSE that one of the Company's subsidiary company, viz Cardiac Science Corporation, USA, has filed voluntary petition under Chapter 11 of the US Bankruptcy Code to Facilitate Debt Restructuring in US Bankruptcy Courts in the Western District of Wisconsin on October 20, 2015.

The above action is initiated by the secured lenders to the company for such filing and the management of Opto Circuits (India) is taking effective legal recourse required in this regard.