PRESS DIGEST - Indian Business News - May 14

MUMBAI, May 14 (Reuters) - Indian newspapers carried the following stories in their print or Web editions on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

ECONOMIC TIMES (www.economictimes.com)

* Mahindra & Mahindra Ltd (MAHM.BO: Quote, Profile, Research) is in talks to acquire two-wheeler maker Kinetic Motor Co Ltd (KNTM.BO: Quote, Profile, Research).

* Reserve Bank of India has taken a hardline approach to ICICI Bank's (ICBK.BO: Quote, Profile, Research) investment in its private equity arm, ICICI Venture. The central bank feels that ICICI may be using its venture fund arm to make investments which could have been difficult from the bank's books.

* Toyota Motor Co (7203.T: Quote, Profile, Research) may carve its Indian arm into two units - one solely handling manufacturing and the other focussed on marketing, distribution and sales - as it recasts strategy to boost its presence in the domestic market.

* Cement makers are reducing prices despite an increase in input costs, mainly due to higher supply on account of new installed capacities and the federal government's ban on exports.

* Paint makers such as Asian Paints (ASPN.BO: Quote, Profile, Research), Kansai Nerolac (KANE.BO: Quote, Profile, Research), Berger Paints (BRGR.BO: Quote, Profile, Research) and Shalimar Paints (SHLP.BO: Quote, Profile, Research) are likely to raise prices of solvent-based paints by 3-10 percent due to a spurt in crude oil prices.

BUSINESS STANDARD (www.business-standard.com)

* Budget-carrier SpiceJet (SPJT.BO: Quote, Profile, Research) is planning to raise $100 million for fleet expansion by the end of the current financial year.