Insecticides India has target of Rs 408: Chatterjee

Insecticides India has target of Rs 408, says Siddhartha Chatterjee of Trustline Securities.

Chatterjee told CNBC-TV18, "Insecticides India is a company which has to do with crop management, crop protection issues. We have been recommending this stock for last one year and have been a multi bagger for us and we still continue to track."

He further added, "June quarter had witnessed a topline growth of about 45% and bottom-line growth of 50%. So, fundamentally financial figures are on track. It has recently crossed its lifetime high and it is a good trading idea to stay in stocks on the long side once it crosses lifetime high. So all these factors together makes me to recommend this stock with a stoploss of Rs 386 and target of Rs 408."