With improved affordability in last 2.5 decades, enhanced fiscal initiatives and credit linked subsidy scheme from government, we expect demand to pick up and hence reiterate our BUY rating on the stock, with a revised target price of Rs. 2,230, based on SOTP valuation. Skewed NIM due to negative carry on higher liquidity Net interest income increased by 10.2% YoY to Rs. 3,392cr, though NIM dropped to 3.1% in Q1FY21 vs. 3.3% in Q1FY20, impacted due to negative carry on account of significantly higher liquidity of Rs. 181cr. The Company recorded a cost-to-income...