MUMBAI: Both the precious metals, gold and silver, exhibited a weak tendency on lack of support at the bullion market on Thursday. Silver prices eased by five rupees in the absence of industrial demand in the wake of increased stockists offerings and helped by weak overseas advices. Silver ready .999 fineness eased to Rs 6870, raw silver .916 fineness to Rs 6770 and tenderable silver to Rs 6875 as compared to Rs 6875, Rs 6775 and Rs 6880 respectively at the close yesterday.

Standard gold dropped by Rs 10 to Rs 4760 from the last close of Rs 4770 on increased offerings against poor offtake. 22-carat gold was nominally quoted lower by five rupees to Rs 4405 from the previous close of Rs 4410 due to slack demand from jewellers.

Ashapura Volclay

MUMBAI: Aspapura Volclay Pvt Ltd, an associate company of Ashapura Minechem, has entered into a joint venture with Japan-based Mizusawa Industrial Chemicals Ltd, Takeda Group company and Mitsuibishi Corporation of Japan.

The new joint venture company to be set up in Kutch (Gujarat), will have an investment of Rs 20 crore and will manufacture 24,000 tonnes of bleaching earth per annum.

Videocon

MUMBAI: Videocon, the leader in the electronic consumer goods market, has recently launched Power Inverters with unique `SLX Technololgy'. The power inverters are fully imported from the US. This product is being marketed in India by India OA Systems Ltd.

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