Kolkata: In the first bearish coverage on LG Electronics shares after their stupendous listing, Kotak assigned a ‘Reduce’ rating on the shares of the Indian arm of the South Korean giant. Around 12:30 pm on Dec 10, LG Electronics India shares were trading at Rs 1,577.30, down Rs 23.10 or 1.44%. Kotak has assigned a fair value of Rs 1,600, which signalled a implying a small downside from Tuesday’s closing price. Kotak said that the stock appears to be fairly valued at the current level. Significantly, a dozen analysts are tracking the stock and all but Kotak have assigned a Buy rating. Only Kotak went the other way.

Strength of LG Electronics

Kotak has pointed out that the leadership of the company in India’s intensely competitive appliances and electronics market rests on the bedrock of

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