We reiterate our BUY rating on the stock with a revised target price of Rs. 803 based on SOTP valuation. Margins up on strong cement performance Revenue grew 11.9% YoY to Rs. 18,861cr in Q1FY20 driven by strong growth in the cement (54.0% of revenue) and financial services business (19.2% of revenue) which increased by 12.8% YoY and 18.9% YoY respectively. The topline was affected by the slow growth witnessed by the Viscose business which grew 1.2% YoY and the decline in Chemicals business of 4.8% YoY. EBITDA grew 31.3% YoY to Rs. 4,217cr in Q1FY20...