Lumax Industries plans to invest up to Rs. 1.61 Cr to acquire a stake of not more than 26% in Power Pulse Trading Solutions (PTSL), a power trading arm of Adani Energy Solutions.

This strategic move aims to secure renewable energy for Lumax's manufacturing facilities at Haridwar, Pant Nagar, and Sanand by qualifying as a captive user.

PTSL, an independent renewable energy producer, reported a turnover of Rs. 11.99 Cr for its initial year of operations.

The company anticipates no major financial impact from this investment, focusing on energy security.