Landmark Cars to Expand MG Footprint in Ahmedabad, Gujarat with the Launch of a New MG Experia Outlet

Landmark Cars Limited (BSE: 543714 & NSE: LANDMARK), one of the leading premium automotive retail businesses in India, has received a letter of intent from JSW MG Motor India Pvt. Ltd. ("MGI") to open a new MG Experia showroom in Vastral, Ahmedabad, Gujarat. This dealership will be established by M/s Aeromark Cars Private Limited, a wholly owned subsidiary of Landmark Cars. This will be Landmark's 17th MG Motor Outlet and would entail Sales of MG Cars.

This expansion resonates with the company's stated objective of going deeper into a brand as well as a geography. Ahmedabad, where the company started its operations 27 years back continues to be an important market for the Company. This would be the company's 2nd sales outlet for JSW MG Motors in Ahmedabad and the 17th outlet overall. MG Motos is a leading player in the new energy vehicle segment with multiple new launches planned. In the last couple of years, MG has become a meaningful part of Landmark's portfolio, and this addition will help in strengthening Landmark's partnership with JSW MG Motor India.

Shares of Landmark Cars Limited was last trading in BSE at Rs. 512.80 as compared to the previous close of Rs. 504.85. The total number of shares traded during the day was 13407 in over 358 trades.

The stock hit an intraday high of Rs. 518.00 and intraday low of 487.00. The net turnover during the day was Rs. 6767011.00.

Source : Equity Bulls

Keywords

LandmarkCars INE559R01029 AutoDealer Expansion MGExperiaOutlet Ahmedabad