ICICI Securities Ltd | Retail Equity Research Havells reported a strong performance amid demonetisation in Q3FY17, reporting sales growth of 13% YoY. It was largely driven by cable & wire and electrical consumer durable (ECD) segments wherein the topline increased 18% YoY led by inventory build-up at dealer level amid rising raw material prices and higher trade discounts to dealers (to partly offset the impact of demonetisation). Lighting division (excluding CFL) recorded growth of 22% YoY while...