MUMBAI, July 19: Gold prices flared up further on heavy demand for the ensuing festival season and poor arrivals at the bullion market. Standard gold rose sharply by Rs 40 to Rs 4580 from the previous close of Rs 4540 on good consumer demand for the oncoming festival. 22-carat gold was nominally quoted higher by Rs 35 at Rs 4235 from Rs 4200 yesterday. Ten-tola gold bar .999 purity firmed up by Rs 500 to Rs 53,600 from rs 53,100 previously due to shortage.

Ipca Lab

MUMBAI: Ipca Laboratories has received the approval of Britain-based Medicines Control Agency for its tablet dosage forms manufacturing facility at Athal in Silvassa. The approval is a prerequisite for export to the premium British markets and also opens up opportunities for the company to enter other EEC countries with finished dosage forms.

Gifts expo

MUMBAI: The Rs 500-crore Indian gift industry is all set to witness one of the biggest trade fair on gifts and stationary called `GIFTS'97' at Nehru Centre, Mumbai, from August 1-5. Nearly 250 leading companies including brands like Reynolds, Flair, Eagle Falsk, Cello, Camlin and Sonell will be participating in the five-day exhibition. ``The expo is expected to generate business worth Rs 100 crore. Around 1.5 lakh visitors from India and abroad are expected to visit the expo,'' said Jivesh Sachdev, MD, Introductions Expositions Ltd, the organisor of the fair.

GIC Housing

MUMBAI: GIC Housing Finance Ltd (GICHF), promoted by the General Insurance Corporation of India (GIC) and its four subsidiaries along with others proposing to launch an `investor- friendly deposit mobilisation scheme' to meet the ever increasing need for resources. The programme involving four schemes are carefully structued to suit the requirements/need of various segment of the investors and also the existing clientele of company.

NK GSB Bank

MUMBAI: The North Kanara GSB Co-Op Bank, a leading scheduled bank has launched its second ATM centre at Dindoshi, Goregaon (E), Mumbai. The bank, which was one of the first co-op banks to start an ATM facility at its Mulund Branch in 1996 has also made available lobby banking facility to its clients of Dindoshi.

P & M Coop

MUMBAI: The Punjab and Maharashtra Co-Op Bank has crossed Rs 100 crore deposits at the end of the first quarter of the financial year 1997-98.At the end of 1996-97 financial year, the deposits stood at Rs 88 crore, said Charanjit Singh Chadha, chairman of the Bank. He further claimed that the bank is the only urban co-op bank in the country to achieve the Rs 100 crore target in a period of just 13 years.

Cadila Pharma

MUMBAI: Cadila Pharmaceuticals, an Indian pharmaceutical major, and Mallinckrodt Inc USA have signed a long term renewable agreement for sales and marketing, distribution, reserach and development, manufacturing and formualtion of various produts by both companies in India, the US and other worldwide markets.

Chembond Chem

MUMBAI: The directors of Chembond Chem have recommended 18 per cent dividend for the year 1997. This includes a one-time 3 per cent special dividend in lieu of money received from Henkel KGaA for transferring the metal chembusiness to Henkel-Chembond Surface Technolgies.The profit amounted to Rs 256.36 lakh.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.