Asian Energy Services plans to invest into electric vehicle sector; Stock gains over 1%

Electrification of vehicles is one of the avenues identified by ASIAN, with an aim to invest and diversify in the renewable sector.

Sep 16, 2021 10:09 IST India Infoline News Service

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Asian Energy Services Ltd has informed in a filing that the Company has been looking for various opportunities available in renewables energies.

"It is now common knowledge that our planet cannot contemplate a future based solely on hydrocarbon and fossil fuels. With the ever-increasing need for energy and its highly fluctuating prices, we need to look at different options of energy beyond conventional energy resources.

Reduced emissions and pollution are an obvious benefit stemming from the adoption of these green energy initiatives", said company.

Thus, taking a long-term view, electrification of vehicles is one of the avenues identified by ASIAN, with an aim to invest and diversify in the renewable sector, it added.

Further, the company informed that a meeting on shorter notice of the Board of Directors of the Company will be held on Friday, September 17, 2021 to explore, evaluate and consider investment into electric vehicle sector.

At around 10:14 AM, Asian Energy Services was trading at Rs151.05 per piece higher by 1.44% on the BSE.

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