Near term weakness offers good entry point, as GGAS will benefit from rising judicial activism to control industrial pollution in the long term. We change our FY22/23E earnings by -4%/+3% to factor in near term volume impact due to pandemic concerns and even increase our FY23E estimates. We remain constructive on GGAS volume prospects as imposition of 200350% import duty on Chinese imports to US has helped domestic exporters in Morbi, which is India's ceramic hub and accounts for over 60% of GGAS...