Traders mistook LG Balakrishnan for LG Electronics. (Photo source: Canva AI) Show Quick Read Summary is AI Generated. Newsroom Reviewed

LG Balakrishnan & Bros Ltd. became an unlikely beneficiary of an investor rush on Tuesday as traders mistook the scrip for LG Electronics, which listed on bourses with a premium of over 50%, Economic Times reported, citing brokers.

As investors rushed to buy LG Electronics shares, they ended up mistakenly adding buy calls for the LG Balakrishnan counter. As a result, the stock surged to a 52-week high of Rs 1,600 in early trade, which accounted for a 15% gain over its closing price of Rs 1,367.60 on Monday.

LG Balakrishnan is a completely unrelated stock to LG Electronics. Based in Coimbatore, Tamil Nadu, the company is an auto components manufac

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