Landmark Cars Limited (BSE: 543714 & NSE: LANDMARK), one of the leading premium automotive retail business in India, has received a Letter of Intent from MG Motor India Pvt Ltd for opening a dealership in Mumbai, Maharashtra. This dealership will be established by M/s Aeromark Cars Private Limited, a wholly owned subsidiary company of Landmark Cars. This business will include Sales and After Sales of MG Cars. This will be the Fifth MG Motor dealership of the Company within 6 months after Goa, Indore & Bhopal in Madhya Pradesh and Ahmedabad, Gujarat.
This demonstrates Landmark's ability to fortify its partnership with MG Motors and maintain its standing as the partner of choice for OEMs. This is in line with the Company's strategy of being a meaningful partner to each OEM they represent and going deep within each geography to get economies of scale. Currently, Landmark Cars is present in nine states of India.
Shares of Landmark Cars Limited was last trading in BSE at Rs. 821.85 as compared to the previous close of Rs. 809.20. The total number of shares traded during the day was 6825 in over 668 trades.
The stock hit an intraday high of Rs. 832.30 and intraday low of 788.20. The net turnover during the day was Rs. 5495290.00.