Landmark Cars zooms on getting LoI from MG Motor India for opening dealership in Ujjain
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Landmark Cars is currently trading at Rs. 766.25, up by 47.75 points or 6.65% from its previous closing of Rs. 718.50 on the BSE.
The scrip opened at Rs. 748.55 and has touched a high and low of Rs. 785.75 and Rs. 748.55 respectively. So far 15916 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 901.95 on 07-Feb-2024 and a 52 week low of Rs. 441.00 on 15-Mar-2023.
Last one week high and low of the scrip stood at Rs. 785.75 and Rs. 710.10 respectively. The current market cap of the company is Rs. 3173.41 crore.
The promoters holding in the company stood at 51.82%, while Institutions and Non-Institutions held 23.59% and 24.59% respectively.
Landmark Cars has received a Letter of Intent (LoI) from MG Motor India for opening a dealership in Ujjain, Madhya Pradesh. This dealership will be established by M/s Aeromark Cars, a wholly owned subsidiary company of Landmark Cars. This business will include sales and after sales of MG Cars. After Indore and Bhopal, this is Landmark’s third MG dealership in the state of Madhya Pradesh.
This new dealership aligns with Landmark's goal of ongoing expansion by penetrating further across geographies as well as OEMs. Over the years, Landmark has built a solid reputation as a preferred of choice for OEMs. Landmark signed six dealership agreements with MG Motor in a brief time period. Currently, Landmark Cars is present in nine states of India.
Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault.
