As per views of Technical Analysts, Ranbaxy Labs is looking very fairly valued at current market price. The stock ended at 433.10 levels on Friday, down by Rs 9.20 or 2.08%.

Ranbaxy has also received US approval for anti-bacterial drug Clarithromycin. The total sales for the drug are estimated at US $100 million.

Ranbaxy has announced on 3rd of October that it is all set to acquire 45% stake in Zenotech for Rs 250 crore. After the deal, Ranbaxy will get a controlling stake of 51% in the Zenotech. The final announcement is expected very soon.

The stock is trading at a P/E of 24.61 at current price. With earnings per share of Rs 17.60 per share, the stock looks a good long term investment.

On NSE, the stock has a 52-week high of 452 and a low of 304. The stock is currently hovering around its 52-week high. As the positive news keep on coming for this Pharmaceutical major, investors can expect decent returns. The near term target for the stock is Rs 520.