20 Apr 07 Asian Electronics Ltd announces 2 new joint ventures
Asian Electronics Ltd has informed the Indian stock exchanges that it has decided to invest in two Joint Ventures the details of which are given below
(1) Asian Electronics Ltdhas formed a Joint Venture Company, called Asian Retail Lighting Ltd for providing lighting solutions for retail industry with Home Solution Retail India Ltd, which is part of the Future Group, as joint venture partners. Core competence of the promoters in their respective fields and pooling of their resources is excepted to provide greater synergy to the Joint Venture, Asian Retail Lighting Ltd,  towards higher growth in the Retail Sector.
(2) Asian Electronics Ltd has formed another Joint Venture Company, Home Lighting India Ltdfor Home Lighting Solutions with Home Solution Retail India Ltd which is part of the Future Group and Idiom Design and Consulting Ltd(Idiom), as joint promoters. Core competence of the promoters in their respective fields and 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.
After this announcement was made, the shares of Asian Electronics Limited zoomed to touch a high of Rs. 464, but corrected later in the day and ended the day at Rs. 449.85, up Rs. 2.15 from thursday’s closing price of Rs. 447.70
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