Though large exploration projects may not be planned in the near-term, the company is well positioned to fulfill commodities demand through its strong reserve of ores. We reiterate our BUY rating on the stock with a roll forward target price of Rs. 196 based on 4.1x FY23E EV/EBITDA. Revenue helped by recovery in commodity prices For Q3FY21, revenue was up 6.5% YoY to Rs. 22,498cr, primarily due to increase in copper, iron ore and silver sales as compared to Q3FY20. Aluminium revenue witnessed growth of 8.7% YoY to Rs. 7,378cr with LME prices rising 9.4% YoY to USD...