Lumax Industries has announced that it will invest around Rs 200 crore on setting up two facilities and one research & development (r&d) by 2012.

Mr. Anmol Jain, senior executive director of the company made this declaration while lecturing on the sidelines of Automotive Component Manufacturers Association of India (ACMA) summit.

Taking advantage of the growth in global business and holiday passenger traffic to abroad destinations, Jet Airways, country's top private global airline, has attained remarkable seat factors of more than 83.1% for its worldwide functionings and recorded a sturdy 27.8% increase in worldwide revenue passengers that was 3.89 lakh during July 2010.

According to an official, Himachal Pradesh, on Monday, has given nod to six industrial plans of Rs 267.68 crore.

The reports said that the projects will offer up jobs to 1,353 individuals in the state.

Among the six industrial and three growth plans sanctioned by the cabinet were Blue Star Ltd, Aishwarya Life Sciences, Kuldip Oswal Cotspin Pvt Ltd and Sainath Texport Ltd.

According to a top company representative, Kolkata-based Berger Paints India is making discussions to get hold of a specialty paint company.

On the sidelines of the company's annual general meeting (AGM), Chairman K. S. Dhingra said, "The board will discuss the offer... the deal is still at a preliminary stage and due-diligence is yet to start."

Bata India recorded an increase of 40.7% in its net profit, which stood at Rs 25.90 crore during April-June quarter.

The company had registered a net profit of Rs 18.34 crore during the same period of last financial year.

The net sales of the shoemaker increased by 13.4% to Rs 350.1 crore during the second quarter of the existing fiscal as against Rs 308.6 crore in the same period of last year.

According to reports, United Bank of India (UBI) is eyeing credit growth of 20%and deposits growth not surpassing 22%during the existing financial year (2010-11).

The banking institution said that it would keep its advances growth controlled up to September 2010 by keep itself away from low-yielding loans.

Reliance Petroleum Trust is all set to sell out about 10 million shares at Rs 2125 each. Further, the company also plans to sell additional 10 million shares, which would take overall proceeds up to US$880 million.

As per the statement from a fund manager, the company may be planning to buy a petroleum asset out of the country, taking help of fallen valuations.

The shares of National Aluminium Company (Nalco) are trading up by 2.23% at Rs 348.50 at the Bombay Stock Exchange (BSE).

Nalco has come up with a plan to set up nuclear power plant in south Orissa’s Ganjam worth Rs 12,000 crore. For this, the company is in talks with Nuclear Power Corporation of India (NPCIL).

Shares of Nalco have touched an intra-day high of Rs 348.90 and low of Rs 342. The total volume of the shares traded stood at 52,232.

Taking a step forward to cheer-up the hospitality sector, the RBI (Reserve Bank of India) came up with an order, which will help hotels to come out of the high risk category of real estate exposure.

This will guaratee that banks will provide loans to companies at lower rates of interest.

The Union food ministry has decided to provide subsidized loans to sugarcane farmers on which the farmers have to pay an interest of just 4% instead of 7%. The Centre has taken the initiative to facilitate sugarcane farmers so that they can purchase quality seeds, fertilizers and pesticides.