PRESS DIGEST - Indian Business News - July 4

MUMBAI, July 4 (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)

* Reliance Communications Ltd (RLCM.BO: Quote, Profile, Research) plans to raise upto $5-6 billion from banks to part-finance its planned acquisition of South Africa's MTN (MTNJ.J: Quote, Profile, Research). Deutsche Bank (DBKGn.DE: Quote, Profile, Research), HSBC (HSBA.L: Quote, Profile, Research) and Barclays (BARC.L: Quote, Profile, Research) are putting in place short-term financing.

* State Bank of India (SBI.BO: Quote, Profile, Research) is likely to earn 3.15 billion rupees by selling part of its stake in the National Stock Exchange.

* JP Morgan (JPM.N: Quote, Profile, Research) is likely to invest $50 million in Cafe Coffee Day Holdings, which plans to raise around $200 million through a combination of equity and debt. Deutsche Bank is also likely to extent a debt of $100-125 million.

* Gitanjali Gems Ltd (GTGM.BO: Quote, Profile, Research) plans to buy U.S.-based retail chain Whitehall Jewellers Holdings, which recently filed for bankruptcy. The deal, if concluded, would be between 3.5-4 billion rupees.

* Private equity firm Chrys Capital has acquired close to 7 percent in Amtek Auto Ltd (AMTK.BO: Quote, Profile, Research) for 2.29 billion rupees via open market purchases in the past three months. The sellers included Citigroup (C.N: Quote, Profile, Research), CLSA and Copthall.

* Delphi Corp (DPHIQ.PK: Quote, Profile, Research) plans to invest 3 billion rupees for setting up a unit for making electronics and safety management systems in Chennai.

* Jindal Saw Ltd (JIND.BO: Quote, Profile, Research) plans to invest 2 billion rupees to set up a wagon manufacturing unit and is part of the firm's plans to invest 100 billion rupees over 5 years for setting up steel and water, urban, shipping and rail infrastructure.