believe that long term outlook remains positive given 1) Innovation led growth strategy, 2) Increasing share in oral care on the back of growth in herbal category 3) Innovations at low price point in beverages allowing DABUR to leverage its distribution 4) Cost saving initiatives like Project Samruddhi (savings of Rs 1.0bn in FY22) and 6) Focus on increasing rural distribution to 80k villages in 2 yrs. However recent surge in share price more than factors the positives, we therefore assign Hold rating (Under Review earlier) to the stock with TP of Rs 588. Expect near term underperformance, although long...