Stock market analyst Salil Sharma has maintained 'buy' rating on Ranbaxy Laboratories Limited stock with a target of Rs 580.

The strict stop loss for the stock will be Rs 553.

The stock of the company, on Sep 21, closed at Rs 561.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 566 and a low of Rs 350 on BSE.

Current EPS & P/E ratio stood at 27.74 and 20.12 respectively.

Country's biggest drug manufacturer Ranbaxy Laboratories said it has bagged nod from the US health watchdog to market a generic edition of Japanese drug manufacturer Eisai's medication for Alzheimer's disease.

Ranbaxy gets exclusive marketing rights for 6 months to sell donepezil hydrochloride in the US market.

Ranbaxy may receive the final FDA nod to sell the medication known under the trade name, Aricept, once the patent protection over the medication terminates on November 25.

On Sep 01, Ranbaxy Labs Ltd announced that its wholly owned arm in South Africa, Ranbaxy S. A. kicked off of its novel manufacturing plant, Be-Tabs Pharmaceuticals Plant at South Africa.

The newly opened plant, made with a total investment of $30 million, will make Analgesics, Cold, Cough and Flu preparations, Anti-Histamines, Anti-Hypertensives, CNS medicines, Vitamins and Minerals in addition to a variety of OTC medication.