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Godrej Industries, the conglomerate said that it is going to invest Rs. 230 crore in setting up a new manufacturing facility in state of Maharashtra. The time period is going to be three years.

This unit will be a manufacturing unit and will be producing oleochemicals. These are a kind of organic fats that are derived from plants and animals and are used as a raw material for detergents and other personal care products.

After a long wait, the shares of Aban Offshore, the oil exploration company finally went up. They had gone down drastically after one of its semi-submersible rig sank. The share price till afternoon of Wednesday had gone up by 8 per cent.

Now, Aban has managed to get the settlement claim from the insurance which will be paying it $235 million.

The company said that 97 per cent of the total claim has been received by Aban and the balance will be coming up soon. This was said in a statement that was filed with the BSE.

US's third largest insurance company, Aetna Inc has increased it profit forecasts for the year 2010. This is the second time that the insurer changed its forecasts following a season where the costs were reduced because of the milder-than-expected flu season and improved coordination between the doctors.

These factors in a combined effect reduced the total healthcare costs.

The Connecticut-based company also said that its operating earnings are expected to reach between $3-3.05 per share. This is higher than the $2.75-2.85 per share prediction that was made in April.

Zen Mobile has released its latest QWERTY, dual SIM phone in India- the Z82.

The phone comes in with an analogues TV receiver making Live terrestrial broadcasts come true on the go. It is the first time ever when a mainstream Indian phone maker has offered to release a phone that comes with this feature.

The phone comes with a GSM+GSM dual SIM handset and has a 2.4-inch QVGA display.

US steel company, AK Steel Holding Corp. has posted a net profit of $26.7 million during the second quarter.

The company managed to reverse the loss that it faced in the same period last year as a result of increasing production.

Analysts say that an increase in the steel shipment world over has had an impact over the financial of the firm. It now estimates that the shipments are going to increase by another 3 per cent during the coming third quarter.

US-based oil company Occidental Petroleum Corp has said that it has posted a profit for the second-quarter because of the constantly increasing price of crude oil.

Occidental is the same company that bought over Citigroup's Phibro energy-trading unit in 2009.

Net income of the firm went up by $1.31 per share or $1.1 billion. Last year it was 84 cents or $682 million. Occidental gave its financial figures to Business Wire.