The share price of Archies on National Stock Exchange (nse) was Rs 1,193 at close of trade on Wednesday, compared to Rs 1,147 of Tuesday.

"The company will announce its audited results later this month and we are targeting Rs 60 crore sales turnover for 1998-99 against Rs 46 crore in the previous year," managing director Anil Moolchandani said. There has been a continuous increase in the Archies' scirp, which has shot up from Rs 450 to the current level over the last 12 months. Moolchandani said the company's market capitalisation grew by a phenomenal Rs 300 crore last year to reach Rs 330 crore as on March 31 this year. "This was possible only because of the tremendous response by the shareholders," Moolchandani said.

The companyhas already announced two interim dividends of 20 per cent each during 1998-99, he said.