vaccination drives & increased government spending may trigger demand to recover rapidly. However, given the current scenario with sharpened fuel costs, we remain cautious on the stock & retain our HOLD with revised target price of Rs. 2,460 based on 11.0x CY22E EV/EBITDA. Topline impact less severe as compared to Q2CY20 For Q2CY21 revenue climbed 49.3% YoY to Rs. 3,885cr (-9.5% QoQ), with cement sales volume of 6.8mt (44.0% YoY). The Ready Mix Concrete business surged 309.9% YoY to Rs. 255cr (-29.1% QoQ) with RMX sales volume of 0.58m cubic meter (293.0% YoY)....