Ex-Bonus Price Target Rs.1617; Initiating Coverage Report Price Target Rs. 2156 (Pre-Bonus) We had Initiated Research Coverage on eClerx services Ltd on 03rd Dec, 2015 with a BUY Rating and a Price Target of Rs. 2156. Post the Ex-date of Bonus issue of 1:3 (One share for every three shares held), the target stands adjusted accordingly to Rs. 1617 per share (from the earlier target of Rs. 2156).