India's Landmark Cars hits record high on adding Mahindra vehicles to offerings

Landmark Cars

08/09/2023 05:06

** Shares of luxury auto dealer Landmark Cars  LANM.NS  rise
as much as 8% to 782 rupees, their all-time high
    ** Stock logs biggest intraday pct climb since June 23
    ** Co says it signed a letter of intent with Mahindra and
Mahindra  MAHM.NS  to open a dealership in Howrah, West Bengal
    ** Dealership will include sales and after sales of MAHM's
vehicles
    ** Separately, LANM says it incorporated its unit Landmark
Mobility for 50 mln rupees ($601,257.83)
    ** Over 259,000 shares change hands as of 9:30 a.m. IST,
2.5X the 30-day moving average
    ** Stock up 56.1% YTD as of last close
    
($1 = 83.1590 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))