 "Ranbaxy hits record high, UBS raises target to Rs 784")
Ranbaxy Laboratories has gained 1.5% to Rs 655, also its record high on National Stock Exchange (NSE), on reports that UBS has maintained buy rating on the stock with a target price of Rs 784 per share.
The target price is 21% higher than Friday’s closing price of Rs 647 on NSE. The brokerage says Ranbaxy is likely to benefit from strong outlook for Sun Pharmaceuticals Industries and the stock continues to trade at discount to Sun Pharma.
A combined around 150,000 shares changed hands on the counter in early morning deals on Bombay Stock Exchange (BSE) and NSE.
The target price is 21% higher than Friday’s closing price of Rs 647 on NSE. The brokerage says Ranbaxy is likely to benefit from strong outlook for Sun Pharmaceuticals Industries and the stock continues to trade at discount to Sun Pharma.
A combined around 150,000 shares changed hands on the counter in early morning deals on Bombay Stock Exchange (BSE) and NSE.
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