Shares of Landmark Cars hit a 52-week high of Rs 887.95 on 18 December after the company announced its entry into the South India market after getting approval from Mercedes-Benz India to open a workshop in Hyderabad.

In its regulatory filing on 16 December, the company said, “This workshop will be established by the listed company, Landmark Cars.”

Sanjay Thakker, promoter and chairman of the company, said, “It is very exciting that Landmark is going to break ground in its tenth Indian state with this workshop. We are happy to further grow our footprint to 21 Mercedes-Benz outlets within five states of India.”

Recently, the company also received a letter of intent from MG Motor India Private Limited to open a dealership in Ahmedabad, Gujarat, and strengthen its position in the state.

The company is involved in the dealership for premium and luxury cars and is operating in 29 cities across eight states and union territories.

The company has partnerships with Jeep, Mercedes-Benz, Honda, Renault, Volkswagen, BYD, and Morris Garage. The company has a partnership with Ashok Leyland in the commercial segment. The company also offers after-sales services, roadside assistance, financing options, pre-sales consultations, and insurance.

At 3:30 pm, the shares of Landmark Cars closed 8.61% higher at Rs 862.80 on NSE.