Maintain BUY with a TP of Rs 960/sh (17x Sept-20 EPS). Insecticides Indias (INST) reported a healthy 2QFY19 performance amidst rupee depreciation and higher input costs (technicals). Sales/EBITDA/PAT grew by 10.0/24.4/18.9% YoY to Rs 4.5bn/Rs 692mn/Rs 430 mn respectively.