Srikanth,
You are rigth: there is no such component and it is impossible to add custom java script.
However, you may embedd IFrame with following source (IE only, I don't know solution for Mozilla):
<html>
<head>
<title>Add to Favorites</title>
<script Language = "JavaScript" type="text/javascript">
var target = window.top;
var urlAddress = target.location.href;
var pageName = target.title;
function addToFavorites()
{
if (window.external)
window.external.AddFavorite(urlAddress,pageName)
}
</script>
</head>
<body>
<a href="#" onclick="addToFavorites(); return false">Add to favorites</a>
</body>
</html>
VS
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