Bizbits — Gold improves, silver drops

MUMBAI, November 19: Gold prices improved and silver dropped sharply in a mixed bullion market here today. Prices of gold stabilised on goo...

MUMBAI, November 19: Gold prices improved and silver dropped sharply in a mixed bullion market here today. Prices of gold stabilised on good demand at lower levels while arrivals through imports withered in the wake of sharp depreciation in the rupee value against the dollar. Higher price trends in the global markets aided the uptrend.

Silver, on the other hand, declined sharply on account offresh arrivals of raw silver in the market as against poor industrial demand. Silver ready .999 fineness dropped to Rs 7050 from Rs.7120. Raw silver .916 fineness slumped to Rs. 6950 from Rs 7020 and tenderable silver declined to Rs 7055 from Rs 7125.

Standard gold firmed up by Rs 10 to Rs 4130 from Rs 4120. 22-carat gold was nominally quoted higher at Rs 3820 from Rs 3810. Ten-tola gold bar .999 purity strengthened to Rs 48,300 from Rs 48,200 previously.

Yash Birla group cos profits rise

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MUMBAI: The Yash Birla group of companies has performed well during the half-year ended September 1997. While Zenith Ltd made a sales turnover of Rs 140.31 crore, its net profit amounted to Rs 306 lakh (Rs 93 lakh). Birla 3M sales amounted to Rs 47.36 crore (Rs 42.70 crore) and net profit Rs 234 lakh (Rs 201 lakh). Birla Yamaha sales were Rs 34.74 crore and net profit Rs 408 lakh.

Comsat Max ties-up with Gilat

MUMBAI: Comsat Max, one of the largest satellite communication service providers in the country, has entered into an exclusive tie-up with the Israeli telecommunications major Gilat Satellite Networks Ltd for marketing Gilat’s FaraWay Very Small Aperture Terminals (VSATs) for its Demand Assigned Multiple Access (DAMA) service in India.

Western Bio Systems

MUMBAI: Western Bio Systems Ltd is setting up a new unit at Solapur with capacity of 45,000 tonnes per annum of particle boards. The unit is expected to begin commercial production in October 1998. The estimated cost of the project is Rs 47.08 crore.

PM Modi offers condolences, Kurnool bus fire tragedy

PM Modi announces Rs 2 lakh ex gratia for families of victims, Rs 50,000 for injured

India4 min ago

Prime Minister Narendra Modi Friday expresses deep condolences to those affected in the Kurnool bus fire tragedy that claimed lives of at least 12 people. He also offered an ex gratia of Rs 2 lakh from PMNRF that would be given to the next of kin of each deceased. The injured would be given Rs 50,000.

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