Landmark Cars Ltd.'s shares surged over 10% to hit record high on Monday after the company got Mercedes-Benz India Pvt.'s approval to open a workshop in Hyderabad.
The Mercedez-Benz approval came just a day after the company got a letter of intent from MG Motor India Pvt. to open a dealership in Ahmedabad.
Shares of Landmark Cars rose as much as 10.07%, the highest since its listing on Dec. 23, 2022, before paring gains to trade 6.62% higher at 10:45 a.m. This compares to a 0.02% decline in the NSE Nifty 50.
The stock has risen 82.88% year-to-date. Total traded volume so far in the day stood at 15 times its 30-day average. The relative strength index was at 68.75.
All four analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies a downside of 6.6%.
RECOMMENDED FOR YOU
JSW MG Motor Says Rare Earth Magnet Shortage Won't Impact Production In Near Future
Jul 09, 2025
.png?rect=0%2C0%2C3500%2C1969&w=75)
Ceigall India Gets Order Worth Rs 1,199 Crore From NHAI
Jul 01, 2025
Gabriel India Shares Surge 20% To Hit New High After Announcing Restructuring Plan
Jul 01, 2025
Adani Cement, CREDAI Forge Landmark Partnership For Sustainable Urban Construction
Jun 13, 2025
POPULAR