Fairwealth Securities is bullish on Lupin Limited and has maintained 'buy' rating on the stock to attain a target of Rs 450.

The stock of the company, on March 21, closed at Rs 403.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 519.80 and a low of Rs 319.80 on BSE.

Current EPS & P/E ratio stood at 19.19 and 21.31 respectively.

As per reports, Lupin is among the top players in the generic section given its sturdy execution capacities and broadening biz model.

The report said, "Lupin has stellar supply-chain execution as it has garnered strong market share gains in the US in most major products, sometimes even from industry leaders like Teva and Sandoz. It is now the sixth-largest pharmaceutical company in the US by volume, indicating the trust it enjoys of major pharmacies and distributors. Lupin got a rich pipeline for various geographies. It has around 145 filing for America as of now."

The report added that Lupin is eyeing on introducing low-competition products to tone up their margins.

The company is eyeing 12 new launches in the US maket for FY12 out of which 3-4 products are likely to be Oral Contraceptives. Thus far, the company has made 26 filings in the Oral Contraceptives section.

Fairwealth Securities expect sturdy increase in profitability headed by a flourishing US generics pipeline, niche Para-IV opportunities in the US, ramp-up in Antara revenues and sturdy increase in Indian as well as European biz.