Tuesday, August 09, 2005

Asian Electronics lights up

Asian Electronics leaped up 5% to Rs 192, which happens to be the maximum permissible limit (5%) for a day for the stock, following the company's announcement its board has okayed a MoU to buy at least 50% of US based Westinghouse Lighting Corp.

The last few months saw the Asian Electronics stock gallop higher. From a low of Rs 66.90 on 29 March 2005, the stock spurted to Rs 182.90 by 8 August 2005.

At present, Asian Electronics has a joint venture with Westinghouse for exports to the US market.

Mumbai-based Asian Electronics is involved in designing and manufacturing energy efficient products.

For Q4 March 2005, Asian Electronics reported a robust financial performance. The company turned out a net profit of Rs 7.05 crore as compared to a net profit of Rs 1.24 crore in Q4 March 2004. Net sales jumped 55.5% to Rs 37.06 crore.


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