LG India Shares Plunge 2% as ICICI Securities Flags Weak Q3 Demand Outlook

• LG Electronics India shares fell nearly 2% on Thursday, settling at Rs 1,521.50 on the NSE.
• The decline followed ICICI Securities' warning of a weak demand outlook for the December quarter.
• Brokerage expects subdued sales across air conditioners, televisions, and appliances due to slowed demand post-festive season.
• Despite the weak outlook, LG is gaining market share in room ACs and has better channel inventory than competitors.
• ICICI Securities maintained a 'buy' rating with a target price of Rs 1,875, citing strong medium-term prospects.

Why It Matters: LG India shares dropped due to weak Q3 demand forecast, despite a 'buy' rating from ICICI Securities.