Asian Electronics to invest in 2 joint ventures

Asian Electronics Ltd has announced that the Company has decided to invest in two Joint Ventures. The Company has formed a Joint Venture Company, viz., "Asian Retail Lighting Ltd" for lighting solutions for retail industry with Home Solution Retail India Ltd (HSRIL) (part of the Future Group), as joint promoters.

Core competence of the promoters in their respective fields & pooling of their resources is expected to provide greater synergy to the Joint Venture towards higher growth in the Retail Sector.

The Company has formed another Joint Venture Company, viz., "Home Lighting India Ltd" for Home Lighting Solutions with Home Solution Retail Ltd (HSRIL) (part of the Future Group) & Idiom Design & Consulting Ltd (Idiom), as joint promoters.

Core competence of the promoters in their respective fields & pooling of their resources is expected to provide greater synergy to the Joint Venture towards higher growth in the Home Lighting Segment through the proposed presence in Retail Malls & High Street Locations.

The stock closed the day at Rs.451, up by Rs.2.15 or 0.48%. The stock hit an intraday high of Rs.462.80 and low of Rs.445. The total traded quantity was 42604 compared to 2 week average of 44287.

Source : Equity Bulls

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