Landmark Cars zooms 8% on South India foray with Mercedes-Benz workshop

Shares of Landmark Cars Limited surged 8 percent higher to Rs 860 in the early trade on December 18 as the company announced it entered southern India after getting the approval from Mercedes-Benz India for opening a workshop at Hyderabad.

“This workshop will be established by the listed company, Landmark Cars,” the company said in a regulatory filing on December 16.

At 9.27 am, the counter was trading at Rs 855, up 7.4 percent from the previous close on the National Stock Exchange. The stock has gained 66 percent this year.

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“It is very exciting that Landmark is going to break ground in its tenth Indian state with this workshop. We are happy to further grow our footprint to 21 Mercedes-Benz outlets within five states of India,” company promoter and chairman Sanjay Thakker said.

Also read: Landmark Cars shares up 5% on dealership pact with M&M

Landmark is involved in dealership for premium and luxury cars. It is operating in 29 cities across eight states and union territories. Its partners for passenger cars include Mercedes-Benz, Jeep, Honda, Volkswagen, Renault, BYD, and Morris Garage. Ashok Leyland is its partner in the commercial segment space. The company also offers after-sales service, pre-sales consultation, roadside assistance, insurance, and financing options.

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