Nirmal Bang has maintained its ‘Buy’ rating on Ranbaxy Laboratories to achieve a target between Rs 225-240 within 1-5 days.

Interested traders can buy the stock on dips with a stop loss of Rs 210.

Shares of the company, on Wednesday (April 15), closed at Rs 199.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 613.70 and a low of Rs 133.15 on BSE.

Takashi Shoda, Daiichi Sankyo president and CEO, the Japanese pharmaceutical company, Daiichi Sankyo that purchased Ranbaxy Laboratories in 2008, will meet USFDA functionaries in May to solve regulatory problems plaguing Ranbaxy`s Paonta Sahib facility in India.

Following a survey that started in 2006, the USFDA, in 2008 banished 30 drugs manufactured by Ranbaxy at the Paonta Sahib and Dewas plants in United States as the regulator detected that Ranbaxy falsified test results of its drugs.

Moreover, the USFDA has also put a freeze on sanction of pending and new marketing applications from the plants.

Daiichi Sankyo Company and Ranbaxy Laboratories (on March 31) declared that Ranbaxy will launch Olvance (Olmesartan Medoxomil, antihypertensive) that was originally discovered by Daiichi Sankyo.

This follows a licensing contract between the companies authorizing Ranbaxy to endorse and sell the drug in the Indian market.

On March 30, Ranbaxy got USFDA nod for its Abbreviated New Drug Application (ANDA), to make and sell Topirimate tablets in different potencies including 25mg, 100mg & 200mg.