PRESS DIGEST - Indian Business News - June 20

MUMBAI, June 20 (Reuters) - Indian newspapers carried the following stories in their print or Web editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

THE ECONOMIC TIMES (www.economictimes.com)

* Retail giant Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) plans to set up a captive technology outsourcing unit in Bangalore. It currently has outsourcing tie-ups with firms such as Infosys Technologies (INFY.BO: Quote, Profile, Research).

* Real estate firm Parsvnath Developers (PARV.BO: Quote, Profile, Research) will pick up 38 percent stake in the 18-billion-rupee Nanocity project in Haryana, jointly set up by the firm and Sabeer Bhatia. The JV also plans to raise 10-12 billion rupees via IPO.

* Great Eastern Shipping Co Ltd (GESC.BO: Quote, Profile, Research) plans to invest 30 billion rupees over three years to expand its fleet size to 24.

* Mortgage lender Housing Development Finance Corp Ltd (HDFC.BO: Quote, Profile, Research) plans to list its life insurance subsidiary in the last quarter of 2009 after listing its mutual fund unit.

* Liquor maker Radico Khaitan Ltd (RADC.BO: Quote, Profile, Research) plans to invest 1.35 billion rupees to set up a distillery in Maharashtra. The new unit will reduce its transportation and logistics costs.

* India's Bajaj Auto, Renault (RENA.PA: Quote, Profile, Research) and Nissan Motor (7201.T: Quote, Profile, Research) plans to widen their proposed product portfolio beyond small cars to multi-purpose vehicles.

BUSINESS STANDARD (www.business-standard.com)