COVID second wave played a spoilsport during Q1FY22 limiting growth. However, we expect performance to improve going forward on the back of demand growth. We hereby reiterate our BUY rating on the stock with a revised target price of Rs. 263 based on SOTP valuation. Pandemic disruptions impact growth sequentially In Q1FY22, topline increased 36.6% YoY to Rs. 12,884cr (-8.1% QoQ), indicating a rebound in demand, only partially offset by the supply side disruptions caused by lockdowns during the quarter. ITC recorded significant growth vis--vis prior year...