Stock market analysts have maintained ‘buy’ rating on Ranbaxy Laboratories stock with an intraday target of Rs 312. 

According to them, interested traders can purchase the stock above Rs 308 with a strict stop loss of Rs 300. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 315. 
 
Shares of the company, on Tuesday (Sep 23), closed at Rs 308.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 2166745. Current EPS & P/E ratio stood at 9.21 and 33.96 respectively. The share price has seen a 52-week high of Rs 613.70 and a low of Rs 299.90 on BSE. 

The stock has good potential and it can still exhibit superb surge. It will achieve the target price on the back of its healthy expansion plans and strong operating abilities.

CRISIL assigned its bank loan ranking of ‘P1+’ to Ranbaxy’s Rs 5 billion short-term bank facility. 

Ranbaxy’s Canadian division has got notice from Canadian drug regulator, Health Canada. The health regulators have demanded for an action plan and reaction against a ban issued by US FDA previously. 
 
Ranbaxy may lose as much as $140 million of income in the coming year (2009) after the US drug regulator blocked up sale of over 30 generic medicines and 7 APIs made in the company’s two factories.
 
Japanese company Daiichi Sankyo`s 20% open offer for the Ranbaxy stockholders was fully subscribed.

Although details of the offer, which Daiichi launched after announcing its intention to purchase the entire 34.8 percent equity stake from Ranbaxy promoters were not available, it is learnt to have garnered more-than-required response.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Cipla, Sun Pharma and Glenmark.