Buy Ranbaxy With Target Of Rs 485

Buy Ranbaxy With Target Of Rs 485Technical Analyst Salil Sharma has maintained 'buy' rating on Ranbaxy Laboratories Limited stock to achieve a target of Rs 485.

Mr. Sharma said that the investors can buy the stock above Rs 465 with a stop loss of Rs 456.

The analyst said that the said target can be achieved in 2-3 trading sessions.

The stock of the company, on March 15, closed at Rs 468.55 on the Bombay Stock Exchange (BSE).

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

Current EPS & P/E ratio stood at 17.68 and 25.95 respectively.

Ranbaxy's net profit zoomed five-fold to Rs 1,497 crore for the twelve month period ended December 2010.

Its worldwide sales remained up by 23% at Rs 8,550 crore for the period ended December 2010, because of advanced sales in growing market regions and key geographies.

Growing market regions made up around 50% of sales.

Ranbaxy had registered a net profit of Rs 296.5 crore in the year 2009.

Ranbaxy's board announced a dividend of Rs 2 a share.

Mr. Arun Sawhney, MD Ranbaxy, stated, "We have had a strong year attributable in large measure to the robust revenue growth in our key geographies and the realizations from our First-to-File ( FTF) opportunities, in the US."