LG Balakrishnan's shares jump 15% as investors confuse it for LG Electronics
Shares of Coimbatore-based auto component maker LG Balakrishnan & Bros rose unexpectedly by 15% in early trade on Tuesday, after some investors mistakenly confused it with LG Electronics India. The mix-up occurred shortly after LG Electronics India's shares debuted on the stock market at a 50% premium. The error was later corrected, and LG Balakrishnan's shares closed nearly 2% lower.