Asian Electronics gains ground on govt orders

DALAL STREET SPIKES

Asian Electronics surged 10 per cent to close at Rs 332.05 on the Bombay Stock Exchange (BSE). The company secured a contract from the Prime Minister's Office to implement energy efficiency technology.

Earlier, Shram Shakti Bhavan and Transport Bhavan in New Delhi had also selected the company for similar contract worth Rs 2.3 crore.

The company is one of the leading energy services company (Esco) registered with the bureau of energy efficiency. Esco is a huge business in the US while in India it has a small but promising presence.

It is estimated that nearly 25,000 mw energy can be saved by implementing end-use energy efficiency and demand side management measures.