Stock market analyst Kunal Saraogi has maintained 'hold' rating on Bafna Pharmaceuticals Limited stock with a target of Rs 54.

According to analyst, the interested investors can buy the stock with stop loss of Rs 44.70.

The stock of the company, on Sep 22, closed at Rs 46.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 54.40 and a low of Rs 19.05 on BSE.

Chennai-based pharmaceutical company, Bafna Pharmaceuticals Ltd has bagged nod from the Australian Therapeutic Goods Administration (TGA) on fabrication of both prescription as well as non-prescription products in Australia.

Mr. Bafna Mahaveer, company's CMD, stated that their guidance for the existing financial year is Rs 100 crore whereas they expect to finish the year with around 8% margins.

Mr. Bafna said, "This year Rs 100 crore will be fine and next year you will see a very great jump in the topline as well as in the bottomline."

In a yet another landmark attained, the dosage of prescription and non-prescription could be in forms of Tablets, Caplets & Hard Gelatine Capsules.

The usage of such products could be in Therapeutic category and there are no limitations with the exception of sterile products and Beta Lactums.