Technical analyst D Prasad has maintained 'buy' rating on Ranbaxy Laboratories Limited stock to achieve a target of Rs 485.

According to analyst, the investors can buy the stock above Rs 467 with a stop loss of Rs 457.

Mr. Prasad said that the said target can be attained in 2-3 trading sessions.

The stock of the bank, on March 17, closed at Rs 467.35 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 17.68 and 26.59 respectively.

The share price has seen a 52-week high of Rs 624.90 and a low of Rs 364.20 on BSE.

Riding on account of healthy sales increase across the world, drug manufacturer Ranbaxy Laboratories announced that its consolidated PAT had increased five-fold to Rs 1,496.80 crore for the twelve month period ended December 2010 as against Rs 296.49 crore during the same period of 2009.

Ranbaxy Managing Director Arun Sawhney stated, "We have had a strong year attributable in large measure to the robust revenue growth in our key geographies and the realisations from our first-to-file (FTF) opportunities, in the U. S."

The total income surged to Rs 9,380.95 crore as compared to Rs 7,986.57 crore during the corresponding period last year.

The company's board announced a dividend of Rs 2 a share for the period ended December 2010.

In spite of continuous challenges in the US market, Ranbaxy rolled out its FTF product Donepezil Hydrochloride tabs 5 mg and 10 mg with 180 days exclusivity during the fourth quarter last year.

In the existing year, Ranbaxy eyes to attain base case sales of around Rs 8,400 crore.