We have developed our Great Quotes site using custom php coding. The home page is showing random Quotes. Right now it is getting displayed by choosing random quotes from mysql db every time any user loads the home page. So, it is taking more db resource and loading time also significantly high. So I want to implement cache for this page. What will be the best approach for implementing cache for this page?
If it's MySQL based, enabling MySQL Query Caching may help: http://dev.mysql.com/doc/refman/5.1/en/query-cache.html Unless your have loads of traffic I can't see why a random quote query would take a lot of resources to run. You may want to look at applying indexes to the db table and tweaking the query for better performance. In particular if you're using "ORDER BY RAND();" within your query, it can be particularly slow on large datasets.
Actually thinking about it, MySQL Query Caching probably wont help since your quotes are randomly being displayed. I'd look more at your data structure and applying indexes, replacing RAND() etc.