We maintain our Buy rating on Mayur Uniquoters and revise our TP to Rs529 as the company's footwear business is well on its way to recovery and its high margin profile remains intact. We expect good performance to be maintained in the coming quarters, aided by i) continued recovery in the footwear segment, and ii) higher traction in exports. The company's foray into the PU business and its new plant in Mysore will also add to its growth momentum, albeit in the medium term as these projects are expected to start in the next couple of months. Q2FY18 was in-line with estimates as strong sales growth supported overall earnings. We...