Shares of Popular Vehicles and Services Ltd rose 2.61% to ₹131.10 in early trade on Tuesday, following the company’s announcement that it received a Letter of Intent from Maruti Suzuki India Limited to establish a new True Value outlet in Bangalore.
The new pre-owned vehicle outlet will be located at Bannerghatta Road, Bengaluru, spanning around 6,000 sq. ft. with a display capacity of 15 cars. The facility is expected to commence operations by August 2025, marking a key strategic expansion in Karnataka’s urban auto retail market.
Managing Director Naveen Philip said this expansion aligns with the company’s focus on the growing certified used car space in metro markets and complements its existing 3S Arena facility in the city.
The stock traded in a range of ₹129.72–₹131 during the session with a market cap of ₹9,330 crore. The move reinforces Popular Vehicles’ long-term growth strategy across both new and used vehicle segments.
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