Buy Ranbaxy With A Target Of Rs 610

Buy Ranbaxy With A Target Of Rs 610Technical analyst Atul Badkar of Edelweiss Securities has maintained 'buy' rating on Ranbaxy Laboratories Limited stock with a target of Rs 610.

The analyst said that the stock can be purchased with a stop loss of Rs 550.

Mr. Badkar said that the said target can be attained within a period of 8-10 trading sessions.

The stock of the company, on December 22, closed at Rs 569.10 on the Bombay Stock Exchange (BSE).

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

Current EPS & P/E ratio stood at 24.34 and 23.51 respectively.

Ranbaxy Laboratories' South African JV has pocketed a 2-year administration order to deliver HIV medications.

The deal is valued at around Rs 603 crore.

Sonke Pharmaceuticals, in which Ranbaxy possesses around 70% equity received the deal from South African administration's national antiretroviral tender and will start supply by the coming year.

During the last month, the company announced that it has received final nod from USFDA to make and sell donepezil hydrochloride in the US market.

Donepezil hydrochloride is the generic edition of Aricept tabs in 5 mg and 10 mg dosages.

Ranbaxy also declared that it has 180 days of sales exclusivity for the drug in the state.