Technical analyst Sanjay Surekha has maintained 'buy' rating on Insecticides India Limited stock with a short term target of Rs 290.

According to analyst, the stock can be purchased with a stop loss of Rs 245.

The stock of the company, on February 18, marked its closure at Rs 264.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 287.10 and a low of Rs 84.20 on BSE.

Insecticides (India) Ltd has reported a hefty increase in its standalone net profit for the three month period ended December 2010.

During the period under review, the company's profit grew by 24.67% to Rs 69.50 million as compared to Rs 55.75 million during the corresponding period of 2009.

Net sales during the quarter ended December 2010 climbed 29.33% to Rs 1,058.05 million.

The total income of the company during the period zoomed 28.96% to Rs 1,058.10 million as compared with the prior year period.

IIL registered an EPS of Rs 5.48 per share during the third quarterly period, recording an increase of 24.55% over previous year period.

The company led the effort to bring home top-notch quality new generation products via newest technological developments.

It entered into technical teamwork with international giants AMVAC, USA for THIMET, which is the country's most popular generic pesticide.