Con­cerns Over Lloyd Num­bers, Stock Tanks 16.75%

The Economic Times - - Brands & Companies -

Did the Lloyd Elec­tric & En­gi­neer­ing man­age­ment mis­guide its in­vestors? In its De­cem­ber earn­ings call, the man­age­ment of the sec­ond-largest air-con­di­tioner (AC) com­pany gave a very strong out­look on its con­sumer busi­ness, which com­prises of AC, wash­ing ma­chines and LED TVs. It is, there­fore, that the sale of this busi­ness at a dirt cheap val­u­a­tion to Havells In­dia sur­prised in­vestors, who rushed to dump Lloyd’s shares.

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