Landmark Cars signs a letter of intent (LoI) with Mahindra & Mahindra

Landmark Cars shares were up in the early trade on September 8 after the company signed a dealership agreement with Mahindra & Mahindra.

"The automotive retailer has signed letter of intent (LoI) with Mahindra & Mahindra for opening dealership in Howrah, West Bengal," company said in its release.

This dealership will be opened in one of Landmark Mobility's fully owned subsidiaries.

Sales and after-sales of Mahindra's Personal, Pickup, and Supro vehicle lines will be part of this enterprise in the regions of Howrah, Hooghly, Kolkata, North 24 Parganas, and South 24 Parganas.

According to a different press release from Landmark Cars, Landmark Mobility Private Limited (LMPL) was established as a fully owned subsidiary of the business on September 4, 2023.

LMPL is yet to commence the business operations and intends to carry on the business of sales, after sales and allied business.