Stock market analyst Ashwani Gujral has maintained 'Buy' rating on Ranbaxy Laboratories Lab to achieve a target of Rs 455 in 4-5 trading sessions.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 400.

Today, the shares of the company opened at Rs 424 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 426.85 and a low of Rs 133.15 on BSE.

Daiichi Sankyo, which holds a majority equity stake in Ranbaxy Laboratories, announced that it will market some of Ranbaxy's generic medication in Japan.

Tsutomu Une, Daiichi Sankyo Senior Executive Officer, Global Corporate Strategy and Member of Board, said that there is a debate taking place in the Japanese market on how to lessen healthcare expenditure by raising the generic share to 30.

The company is processing a synergy program with Ranbaxy under which Daiichi Sankyo's product will be launched in rising market areas via Ranbaxy.

In 2008, the US Food & Drug Administration had banished 30 generic drugs developed at Ranbaxy's facilities at Poanta Sahib and Dewas following infringement of good manufacturing practice.

For the three month period ended Sept 30, 2009, Ranbaxy Laboratories net sales dropped 18% to Rs 17,205 million.

The company's EBITDA was Rs 2,221 million, while its net profit stood at Rs 1,166 million during the period.

Mr. Atul Sobti, CEO & MD of Ranbaxy stated that they're delighted with the reliable q-o-q improvement in the financial performance during the year, despite on going challenges in some key markets.