ICICI Securities Ltd | Retail Equity Research Havells reported ~9% YoY growth in sales during Q2FY17 supported by 22% and 9% YoY growth in electrical consumer durable (ECD) and lighting segment, respectively. Lighting division (excluding CFL) recorded growth of 22% YoY while ECD sales growth was largely driven by pre-festive demand. Though the cables division registered ~9% YoY volume growth, aggressive price cuts due to lower commodity price, resulted in muted sales growth. Switchgear sales...