Stock market analyst Anil Singhvi has maintained 'buy' rating on Piramal Healthcare Ltd stock with intra-day target of Rs 510.

According to analyst, the investors can hold the stock with stop loss of Rs 488.

The stock of the company, on June 25, closed at Rs 493.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 599.90 and a low of Rs 300 on BSE. Current EPS & P/E ratio stood at 22.70 and 21.82 respectively.

Piramal Healthcare is eyeing a string of acquirements in the biotechnology segment in the US, Europe and Canada by the next 2-3 years.

Piramal Healthcare is planning to make up for the Rs 2,000-crore hole in its yearly income caused owing to the recent sale of its domestic drug business for more than Rs 17,000 crore to US pharmaceutical major Abbott Labs via these acquirements.

Chairman Ajay Piramal stated, "We want to collect a portfolio of small (biotech) companies abroad. One such acquisition was BioSyntech in Canada, through which we acquired the rights of a promising new cartilage repair device that is undergoing the last stage of clinical trials."

Piramal Healthcare has declared that it is going to ink a deal with BioSyntech of Canada.

Both the firms decided on this agreement and as per the current deal, Piramal Healthcare is going to get hold of BioSyntech's assets.

According to sources, the Indian Inc. will pay around $3.9 million to the Canadian for this acquirement.

BioSyntech is one of the top medical device Canadian company, which develops, manufacture and commercialize the innovative biotherapeutic thermogels.