Improved demand, recovery in prices and capacity expansion in epoxy business remain key growth drivers. However, surging fuel trends remain concern in the near-term. We maintain our HOLD rating on the stock with a revised TP of Rs. 1,517 based on SOTP valuation. Topline growth supported by strong demand and improved prices Q4FY21 revenue rose 26.1% YoY to Rs. 24,399cr (+16.2% QoQ) aided by strong growth across all business segments. Cement revenue grew 32.7% YoY to Rs. 14,406cr, supported by growing volumes (27.8mt). Viscose Pulp business revenue increased by...