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Monday Feb 06, 2023

Landmark cars hits new high after weak debut surges 17 percent in two days IPO launch in Dec – Business News India


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On December 23 last year, the IPO of Landmark Cars, a vehicle dealership, had a weak listing in the stock market. However, the stock has gained momentum within 10 trading days. This stock is climbing since last two days. The stock has given a return of up to 17 per cent in just two trading days.

What is the share price: Landmark Cars share price reached a level of Rs 581.65 on Friday, the last trading day of the week. This is the all time high level of the stock. However, profit booking was seen in the stock after noon. The stock of this company has gained 17 per cent in the last two trading days.

Flop listing happened: Landmark Cars stock had a weak opening on December 23. The company’s stock, which was listed down nearly seven per cent at its issue price of Rs 506, closed down nearly 10 per cent by the end of trading. Whereas, on December 26, the share price came down to a low of Rs 433.20. From this low, the stock has now jumped up to 34 per cent.

Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep and Renault. Landmark Cars also has a commercial vehicle dealership for Ashok Leyland in India.

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