Lumax Auto Technologies’ stock jumped by 7.37% to ₹559.20 on the NSE at 9:15AM today, following the announcement of its acquisition of a 60% stake in Greenfuel Energy Solutions for ₹133 crore. The deal marks Lumax’s entry into the rapidly growing green and alternate fuels segment, including CNG and hydrogen fuel systems, which is expected to witness strong demand in the coming years.
Greenfuel Energy Solutions, a supplier of high-pressure fuel delivery systems for CNG and hydrogen vehicles, as well as fire and smoke detection systems, counts top automotive OEMs such as Maruti Suzuki, Tata Motors, and Volvo Eicher among its clients. The acquisition will enable Lumax to diversify its product portfolio and strengthen its position in the sustainable automotive market, particularly as the CNG vehicle sector is set for strong growth.
Lumax’s management emphasized that the partnership with Greenfuel aligns with their long-term strategy to capitalize on the growing demand for cleaner mobility solutions. The acquisition is expected to provide significant growth potential by leveraging both companies’ technological and market strengths.
The stock surge reflects investor optimism about Lumax Auto’s future prospects in the clean energy automotive space, as the company moves toward becoming an industry leader in alternate fuel systems. The closure of the transaction is subject to customary conditions.
