Bizbits

Steep fall in silverMUMBAI: Silver prices turned distinctly weak on the bullion market here on Saturday when it fell steeply by Rs 100 pe...

Steep fall in silver

MUMBAI: Silver prices turned distinctly weak on the bullion market here on Saturday when it fell steeply by Rs 100 per kg following the sharp fall in prices in the international markets Gold also remained depressed. Ready silver .999 fineness opened weak at Rs 8270 and declined further sharply to Rs 8240, showing a steep setback of Rs 100 over yesterday8217;s close of Rs 8340. Raw silver .916 fineness fell by Rs 105 to Rs 8110 from Rs 8215 and tenderable silver dropped to Rs 8245 from the last level of Rs 8345. Standard gold reacted by Rs 10 to Rs 4345 from Rs 4355. 22-carat gold was nominally quoted weak at Rs 4020 from Rs 4030, while ten-tola gold bar .999 purity lost Rs 100 at Rs 51,200 as against Rs 51,300.

Forex down

MUMBAI: The foreign currency assets dipped by 42 million to 27,429 million during the week ended January 29. Total foreign exchange reserves fell by 43 million to 30,491 million. Special drawing rights SDRs were down by 1 to 47million and gold reserves remained static at 3,015 million.

Aditi Corp

MUMBAI: Washington-based Aditi Corporation has commenced marketing of its award-winning E-mail and web form management product, Talisma, in India. The product allows companies to respond effectively to customer E-mail through readymade responses which drew on a rich customer database detailing the history of all customer responses. The product is priced at Rs 10,000 per seat and currently being evaluated by Rediff on The Net and PC magazine Chip, Simonil Kakalia of Aditi said.

Himalaya Drug

MUMBAI: Himalaya Drug Company has launched its international range of ayurvedic health and personal care products branded quot;Ayurvedic Conceptsquot; in the city as part of the nationwide launch plan. Following the successful launch in the US, it has launched in India with a portfolio of products spanning soft health, body, skin and hair care.

Apple Finance

MUMBAI: Apple Finance has recorded a net profit of Rs 22.07crore for the third quarter ended December 1998. The company achieved improved profitability of 12.84 per cent on the gross income. This compares favourably over the previous year8217;s figure of 10.75 per cent. The company achieved a total income of Rs 171.89 crore, an expenditure of Rs 29.70 crore, interest charges of Rs 85.47 crore and depreciation of Rs 33.60 crore. The provision for taxation is Rs 1.05 crore.

Manugraph Ind

MUMBAI: Manugraph Industries has achieved a total sales and other income of Rs 24.33 crore during the third quarter ended December 1998. The export sales amounted to Rs 13.68 crore which is 56 per cent of its sales.