Displaying resilience, Marico reported strong all-round performance in the midst of a quarter impacted by a lockdown-induced slowdown. Company witnessed ample recovery in margins and we expect further improvements from current levels in the coming quarters. Maintaining a positive outlook, we upgrade our rating on the stock to BUY with a revised target price of Rs. 590 based on 50x FY23E adj. EPS. Volumes and demand growth aids topline During Q1FY22, Marico reported a broad-based recovery on the back of revival in...