ICICI Securities Ltd | Retail Equity Research Bajaj Electricals' (BEL) revenues at | 959.4 crore were down 5% YoY led by lacklustre performance of consumer durable (CD) segment. The CD sales (includes revenue from lighting segment) declined 8% YoY as sales of appliances category were continuously hurt by company's strategy to reduce inventory at dealer's level. We believe this has resulted in BEL losing market share of consumer appliances with the competition. The company's lighting segment revenue...