Continued strong demand in Rural areas supported by decent urban demand recovery improves the outlook of the business in near-term. Despite uncertainty arising due to increase in COVID cases, we believe the company is well-placed in terms of demand planning & supply chain management. Therefore, we maintain our BUY rating on the stock with a target price of Rs. 2,710 based on 58x FY23E adj. EPS. Strong recovery in BPC, HC drives revenue growth HUVR's revenue grew by 34.6% YoY (+2.3% QoQ) to Rs. 12,132cr, supported by...