We had Initiated Research Coverage on Insecticides India on 16th March, 2015 with a BUY Rating and a Price Target of Rs. 1073 for a Investment Horizon of 9-12 months. Post the Ex-date of Bonus issue of 1:2 (One Share for every two shares), the target stands changed accordingly to Rs. 716 per share (from the earlier target of Rs. 1073).