Buy Ranbaxy Above Rs 475

Buy Ranbaxy Above Rs 475Technical analyst Jatinder Sharma has maintained 'buy' rating on Ranbaxy Laboratories Limited, stock to attain a target of Rs 495.

According to analyst, the investors can buy the stock above Rs 475 with trailing stop loss of Rs 462.

The stock of the company, on April 25, closed at Rs 474.40 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 17.68 and 26.73 respectively.

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

Ranbaxy has introduced generic Olanzapine pills, utilized for the treatment of problems linked to central nervous system in Spain.

Ranbaxy stated that Olanzapine tabs in multiple potencies of 2.5 mg, 5 mg, 7.5 mg and 10 mg and also orodispersables in the intensities of 5 mg and 10 mg were introduced instantly on the day of patent expiry.

The company stated, "Ranbaxy has received necessary regulatory approvals from the Spanish health authorities to manufacture and market Olanzapine in Spain."

Zyprexa is the leader product of Eli Lilly and holds a market volume of $210 million.

Ranbaxy's Country Manager in Spain, Pere-Lluis Sala stated, "Ranbaxy has a strong portfolio of CNS products and the launch of Olanzapine further deepens our offering in this space."

The generic option will result in noteworthy savings for sufferers and the Spanish Health System that has been heartening generic prescription as a way to make healthcare reasonably priced.




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