Good show despite weak demand in south; Retain Buy We maintain our Buy rating on Ramco Cements (TRCL) and with a revised TP to Rs790. During Q2FY18, despite weak demand in Tamil Nadu and Kerala markets, TRCL delivered 6% YoY volume growth and unitary EBIDTA of Rs1229/MT (though down 21% YoY on its peak performance last year). We remain bullish on the company owing to strong demand outlook for AP/Telangana and east markets, and expected recovery in Tamil Nadu and Kerala markets. Despite weak demand in south, TRCL delivered 6% YoY volume growth: In...