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October 26, 2026October 26, 2026
Landmark Cars Ltd shares hit a day high of Rs 431.90 on 26 October, up 3%, after it signed deals with JSW Motors for five new outlets.
The company said in an exchange filing on 26 October that it had signed letters of intent with JSW Motors.
A letter of intent is an early written commitment to work together, short of a final contract.
The five outlets will sit under one of Landmark’s wholly owned arms. South Ahmedabad gets two showrooms and a workshop.
Bhopal gets one showroom and one workshop. JSW Motors is the JSW Group’s new passenger car brand, separate from JSW MG Motor India.
The brand is setting up a plant at Chhatrapati Sambhajinagar in Maharashtra to make new energy vehicles, and sales are expected to begin from the next financial quarter.
Landmark did not share what it will spend on the outlets or how much revenue to expect.
It already sells cars for Mercedes-Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra, Kia, MG Motor and Citroën, and it runs commercial vehicle retail for Ashok Leyland.
JSW Motors joins that list. The September quarter showed growth. Revenue from operations rose 17.26% to Rs 1,943 crore, from Rs 1,657 crore a year earlier.
Car sales brought in Rs 1,662 crore, while servicing, spare parts and other work added Rs 281 crore.
Flooding in Gujarat hurt sales and servicing in affected areas during the quarter, the company said.
In late September, Landmark added new BYD and Mahindra outlets. It also declared a dividend of Rs 1.50 per share, and shares traded without it from 17 September.
At 14:57 pm, the stock’s trading at Rs 425.95 on NSE, up by 1.90% from the previous close of Rs 418.
Even so, shares are down 9.73% this year and 30.67% over one year, and the 52-week range runs from Rs 339.50 to Rs 656.80.
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