Technical analyst Ambrish Baliga of Karvy Stock Broking has maintained 'hold' rating on Dishman Pharmaceuticals & Chemicals Limited stock with a target of Rs 168-174.

The analyst said suggested that partial profit should be taken at aforesaid level and if you hold it for 10-12 month period, the target of Rs 240 can be attainable.

The stock of the company, on December 27, closed at Rs 144.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 275 and a low of Rs 129.15 on BSE.

Current EPS & P/E ratio stood at 6.41 and 23.43 respectively.

Under a $50-million agreement, Ahmedabad-based Dishman Pharmaceuticals will make cardiac drug components for a European company.

The yet-to-be launched heart disorders medication is likely to produce $2 billion revenues per annum and is considered as a budding blockbuster, a pharma executive near to the development stated.

Any medication, which makes $1 billion every year named as a best-seller drug according to the pharmaceutical industry benchmarks.

The source denied to reveal name of the European firm citing regulatory constraints but affirmed that the company was among the two firms in the world to deliver the intermediaries.

"The deal is very sensitive in nature as the supply is for a drug that is yet to be launched in the global market," he said.