Shares of Landmark Cars rose 10% to Rs 581.65 in intraday trade on Friday, the highest level since its BSE listing. Shares of the auto dealer have soared 17% over the past two sessions.

Landmark Cars were trading 8.5% higher at Rs 575 at 11:42 am. The S&P BSE Sensex fell 0.46% to 60,078. The average OTC volume on the NSE and BSE almost doubled, with a total of 1.07 million shares changing hands.

Landmark Cars is now trading at a premium of 15% to its IPO price of Rs 506 a share after a rally in the past two days. It has rebounded 34% from a 52-week low of 433.20 hit on December 26, 2022. The company made its stock market debut on December 23, 2022.

Landmarks Cars had a poor debut, with its shares listed on the BSE at Rs 460, 9% below its issue price.

Landmark Cars is India’s leading premium car retailer with Mercedes-Benz, Honda, Jeep, Volkswagen and Renault dealerships. Landmark Cars also owns the Ashok Leyland commercial vehicle dealership in India. It affects the entire automotive retail value chain, including sales.

Landmark Cars is a leading car dealership for key OEMs focusing on high-growth segments (premium and luxury). The growing aftermarket business has resulted in predictable revenue growth and higher margins. An inclusive business model covering the entire customer value chain and a robust business leveraging innovation and digitalization are essential triggers and highlights for the company.