Ranbaxy Labs is good investment at current levels

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.

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