Landmark Cars surges 7%, hits new high on strong business update

The company said it witnessed a strong revenue growth, with multiple tailwinds in the form of rising income levels, new models launches by our partner OEM and changing lifestyle preferences

SI Reporter Mumbai
Big brands such as Mercedes, Hyundai among others are reaching out to customers directly via digital sales platforms, thereby eliminating the role of physical showrooms

Shares of Landmark Cars hit a new high of Rs 598.60, surging 7 per cent on the BSE in Wednesday's intra-day trade, after the company said it recorded a strong 41.29 per cent growth in total revenue from operations at Rs 3,384 crore for the nine months ended December 2022 (9MFY23). The company had made its stock market debut on December 23, 2022. In the past one week, the stock has rallied 13 per cent, as compared to 1.5 per cent gain in the S&P BSE Sensex. Landmark Cars is now trading 18 per cent higher against its issue price of Rs 506 per share. It has bounced 38 per cent from its 52-week low of Rs 433.20, touched on December 26, 2022.

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First Published: Jan 18 2023 | 11:55 AM IST

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