Bizbits

Silver prices on the upswing

MUMBAI: Silver prices registered another steep rise of Rs 95 per kg on the bullion market here Thursday on good industrial demand and firm overseas advices even as gold prices slid on poor demand. Ready silver .999 fineness rallied to close at the year8217;s highest level of Rs 8135, a sharp rise of Rs 95 over the last close of Rs 8040. Raw silver .916 fineness skyrocketed by Rs 140 to close at Rs 8060 from the previous close of Rs 7920, while tenderable silver rallied to Rs 8140 from Rs 8045.

Excel Industries gets Crisil rating

MUMBAI: Crisil has assigned a P1 rating to the Rs 20 crore commercial paper programme of Excel Industries Ltd. It has also reaffirmed the FAA rating assigned to the company8217;s fixed deposit programme. The rating incorporates Excel8217;s strengths arising out of its experience in the agro-chemical business, strong brand image, large marketing network and strength in process technology. The company8217;s strengths are partially offset by threatsarising out of high dependence of the agrochemical business on the monsoons in India.