{
Lumax Auto Technologies Limited

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Lumax Auto acquires majority stake in Greenfuel Energy for 153 crore rupees

Lumax Auto Technologies has acquired a 60% stake in Greenfuel Energy Solutions for Rs 153 crore, marking its entry into the green and alternate fuels market. The acquisition, executed through Lumax Resources, was financed through debt and internal accruals. Greenfuel specializes in high-pressure fuel delivery systems for CNG and hydrogen vehicles, serving major OEMs like Maruti Suzuki and Tata Motors, and will continue to operate under MD and CEO Akshay Kashyap.
Moneycontrol
Indian Rupee Volvo Eicher Commercial Vehicles Maruti Suzuki India Limited Lumax Auto Technologies Limited Tata Motors Limited IND Akshay Kashyap Show more
Technology & Innovation, Market Report
04:16 27.11.2024

lumax auto technologies maintains buy rating with target price of 682

Lumax Auto Technologies reported an APAT of Rs 42.9 crore, surpassing estimates of Rs 35 crore, with an order book reaching Rs 1,050 crore in Q2FY2025. Sharekhan maintains a BUY rating with a target price of Rs 682, citing expected improvements in product mix and demand trends in H2FY2025. The stock trades at a P/E of 15.8x for FY26E and 13.4x for FY27E, with an EV/EBITDA of 7.0x and 6.1x, respectively.
Moneycontrol
Lumax Auto Technologies Limited IND
Finance & Economy, Market Report
08:39 21.11.2024
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