ICICI Securities starts India's LG Electronics with 'buy'

LG Electronics India

13/01/2026 05:46

** ICICI Securities starts LG Electronics LGEL.NS with "buy"; sets PT at 1,725 rupees

** Brokerage says co has strong leadership hold across categories, one of the most backward-integrated manufacturers with various key components such as compressors, heat exchangers, PCB assembly in-house

** Adds, co has strong manufacturing capabilities through two facilities at Noida, Pune and upcoming one in Andhra Pradesh

** Notes co leverages strong brand equity, product innovation of South Korea-based parent, having access to global R&D

** Says co has cash-rich balance sheet with superior margin, return ratios

** Stock rated "buy" on avg; median PT is 1,890 rupees, per data compiled by LSEG

** LGEL rises 1.58% to 1,411 rupees, 25% above issue price of 1,140 rupees

(Reporting by Komal Salecha)

((Komal@thomsonreuters.com;))