A scramble to buy shares of LG Electronics India on its market debut Tuesday led to a bizarre case of mistaken identity — with investors accidentally pouring money into an entirely different company: LG Balakrishnan and Bros.
As trading opened, retail enthusiasm surged for LG Electronics India, expected to deliver a strong listing pop. But in the rush, some investors reportedly punched in orders for LG Balakrishnan, a Coimbatore-based auto parts maker, founded in 1937 — a stock unrelated to the electronics giant. Advertisement
The confusion sparked unusual activity. LG Balakrishnan stock surged nearly 15% in early trades, hitting ₹1,600 on the NSE, well above its previous close of ₹1,390. Volumes exploded — 684,105 shares were traded across NSE and BSE, dwarfing the two-week daily avera