Buy Ranbaxy With Stop Loss Of Rs 496

Buy Ranbaxy With Stop Loss Of Rs 496Stock market analyst Jatinder Sharma has maintained 'buy' rating on Ranbaxy Laboratories Limited stock to achieve a target of Rs 538.

Mr. Sharma added that the stock will take around 3-5 days to hit the said target.

The strict stop loss for the stock will be Rs 496.

Today, the stock of the bank opened at Rs 506.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 538 and a low of Rs 342 on BSE.

Current EPS & P/E ratio stood at 27.74 and 18.28 respectively.

The country's biggest drug manufacturer, Ranbaxy Laboratories has made declaration about the launching of its new high-tech manufacturing plant, Be-Tabs Pharmaceuticals Manufacturing Plant, at Roodepoort, Johannesburg, South Africa.

Ranbaxy Labs Ltd, which is 64% possessed by Japanese drug majker Daiichi Sanko, stated that the novel plant would make painkillers, cold, cough and flu preparations, medicinal drugs, anti-hypertensives, central nervous system medications, vitamins and minerals in addition to a complete variety of otc drugs.

The company has invested around $30 million on this new facility, which will be the drug giant's third plant in South Africa and the third in the African continent.

During the last month, the drug maker said that its experimental malaria medication has given positive results in a mid-stage clinical trial.