Buy Orchid Chemicals With Target Of Rs 340 Stock market analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Orchid Chemicals & Pharmaceuticals Limited stock with a target of Rs 340.

The stock can be bought with a stop loss of Rs 315.

The stock of the company, on Nov 23, closed at Rs 321.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 344.40 and a low of 128 on BSE.

Current EPS is -72.43.

Orchid Chemicals and Pharmaceuticals Ltd has posted a net profit of Rs 24.01 crore for the three month period ended September 30, 2010 as against a net loss of Rs 13.20 crore during the same period of 2009.

For the three month period ended September 30, the company's turnover stood at Rs 381.80 crore as compared to Rs 314.41 crore in the like period of 2009.

For half year ended September 30, the company's net profit remained at Rs 45.63 crore as against a loss of Rs 42.96 crore during the same period of 2009.

Revenues for the half year ended September 2010 increased by 14% to Rs 712.72 crore as compared to Rs 623.24 crore during the same period of 2009.

Orchid Chemicals and Pharmaceuticals MD K Raghavendra Rao said, "The second quarter of this fiscal has witnessed strong growth which was primarily driven by the enhancement in supply of niche APIs to global generic majors."

The company stated that during the second quarter of this fiscal its regulated generics biz continued to record healthy incomes.