Lloyd Electric shares plunge 20% a day after Havells deal
Lloyd Electric and Engineering on Monday slumped as much as 20%, its steepest fall in three months, after the company announced the sale of its consumer durable business to Havells India for ₹1,600 crore. Further, Havells India also fell by 2.5% in intraday trade. Notably, Havells will acquire the consumer business infrastructure, people and distribution network of Lloyd.