M&M stock rallies 3% on unlocking value in renewable energy arm

The two parties have signed binding agreements pursuant to which Ontario Teachers will acquire a 30 per cent equity stake in Mahindra Susten Mahindra Susten at an equity value of Rs 2,371 crore.It said the deal will enable the Mahindra Group to unlock value in the renewable energy sector and it will continue to invest along with Ontario Teachers’ to help realise its twin objectives of accelerated growth and global leadership in ESG.