Landmark Cars executes an Asset Transfer Agreement to acquire Kia Showroom, Strengthens Presence in Hyderabad

Landmark Cars Limited (BSE: 543714 & NSE: LANDMARK), one of the leading premium automotive retail businesses in India, has executed an Asset Transfer Agreement to acquire an existing Kia Showroom business at Bowenpally, Hyderabad, following the receipt of Kia India's approval to operate a Kia showroom in Hyderabad, Telangana. For the Company, this will be the second Kia Showroom in Hyderabad and the fifth Kia outlet in the country. This showroom will be a part of M/s Landmark Premium Cars Private Limited, a wholly owned subsidiary company of Landmark Cars. The strategic move aligns with Landmark's vision to strengthen its footprint in its existing territories and consolidate its market presence.

Landmark already has a strong presence with 7 outlets in Hyderabad across multiple brands, namely, Kia, Mahindra & Mahindra, and Mercedes-Benz.

Shares of Landmark Cars Limited was last trading in BSE at Rs. 686.05 as compared to the previous close of Rs. 678.70. The total number of shares traded during the day was 2609 in over 229 trades.

The stock hit an intraday high of Rs. 688.50 and intraday low of 675.25. The net turnover during the day was Rs. 1784772.00.

Source : Equity Bulls

Keywords

LandmarkCars INE559R01029 AutoDealer AssetTransferAgreement Acquisition KiaShowroom Bowenpally Hyderabad