Technical analyst Ashish Maheshwari of Global Capital Market is bullish on Lupin Limited and has maintained 'hold' rating on the stock.

According to the analyst, the interested investors can add more on dips of 5-7% from current levels.

Today, the stock of the company opened at Rs 389 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 519.80 and a low of Rs 317 on BSE.

Current EPS & P/E ratio stood at 19.19 and 20.06 respectively.

Lupin said that the company is eyeing revenues from the Japanese market to surge 20-25% by the coming fiscal.

Lupin is eyeing to roll out 10 products in Japan via its division Kyowa Pharmaceutical by the next fiscal.

The report said that company is aiming grosses from Japan to develop by 20-25% in the next fiscal.

Lupin addresses a target market volume of nearly $3 billion via these new launches.

Lupin's net profits increased 39% to Rs 2,240 million in Oct-Dec period of 2010 as against Rs 1,606 million in the same period of 2009.

The company's net sales surged 17% to Rs 14,672 million during Q3 of 2010.