This S&P BSE Smallcap stock rose 19% halfway through the markets open on Friday after it announced a partnership with Mahindra & Mahindra Ltd with volumes that were 22x yesterday’s as well as weekly and monthly average volumes.
The stock closed 0.7% above its 20 day moving average and 1.5% above its 200 day moving average at Rs. 809.25. It is currently 6.3% away from its 52 week high. The company has a market cap of Rs. 3,262 crore.
Landmark Cars Ltd was listed in December 2022 and has given 74% YTD. In a filing dated 7th September 2023, Landmark stated that it has signed a Letter of Intent with Mahindra and Mahindra Limited for opening a dealership in Howrah in the state of West Bengal. This dealership will be established in one of the wholly owned subsidiary of Landmark Cars Limited, namely Landmark Mobility Private Limited. The company files Incorporation and acquisition details shortly before this.
This business will, inter alia, include Sales and After Sales of Mahindra’s Personal, Pickup and Supro range of vehicles in the areas of Howrah, Hooghly, Kolkata, North 24 Parganas and South 24 Parganas. This is consistent with the strategy of the Company to partner with premium SUV OEs with focus on EVs. Landmark has been present in the state of West Bengal since 2013 with Mercedes-Benz.
One of the top premium automotive retailers in India is Landmark Cars, which has dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, BYD, MG, and Renault. The business also serves Ashok Leyland’s Indian retail commercial vehicle business.
The business is present throughout the automotive retail value chain, including new car sales. sales of pre-owned passenger vehicles, after-sales service and repairs, pre-owned passenger vehicle sales, and facilitation of third financial and insurance products from a party.
Written by Sandeep R
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