All eyes on Bharti Airtel & Reliance Communications

The proposed $23-billion cash-and-share-swap deal between Bharti Airtel and South Africa's MTN has been called off. This is the second time in two years that talks between the two have failed. Bharti Airtel blamed the South African government for the latest breakdown in a deal which faced close scrutiny from regulators and politicians. The deal would have created the world's third-largest telecom company. A press release issued by Bharti said that the company would continue to explore international expansion opportunities.

Biocon will acquire the bulk pharmaceutical business undertaking of IDL Specialty Chemicals, located near Hyderabad. No other details were available.

Aksh Optifibre plans to raise up to $20 million on a private placement basis. The funds will be used to grow its internet protocol television and voice over internet businesses.

Mahindra & Mahindra may reportedly combine its two engine-making units, unlisted Powerol and Swaraj Engines, under one company to boost revenues from the businesses.

Oil & Natural Gas Corporation (ONGC) is replacing 30 offshore supply vessels. It has ordered 12 vessles and plans to replace the remaining 18 on a phased manner over the next three years.

United Spirits is reported to have got shareholder approval to raise funds. It will raise $300-$350 million, which would help it develerage its balance sheet.

Bajaj Auto is reportedly planning to expand capacity in two of its factories but did not disclose the quantum of investments.

Milestone Religare Investment Advisors, a private equity fund floated by Milestone Group and Religare is reportedly close to signing a deal to invest Rs 25-50 crore each in two south India-based hospitals.

Glenmark Generics, a unit of Glenmark Pharmaceuticals, has reportedly filed regulatory application with the market regulator to raise Rs 550-600 crore via an initial public offering (IPO).

MRF India is reportedly likely to take a Rs 700-800 crore hit on its topline this year due to labour unrest that disrupted schedules at two of its plants in India.

Swaraj Mazda, which is implementing a Rs 260 crore expansion programme, has entered into technical agreements with Malaysian and Chinese firms for production of buses, bus bodies and procuring some parts.

Reliance Communication's tower unit Reliance Infratel is reportedly talking to its existing shareholders - George Soros, HSBC, New Silk, Galleon, DA Capital and GLG Capital among others - to rope them in as anchor investors in its forthcoming initial public offering.

Shipping Corporation of India (SCI) is reportedly looking to raise nearly $300 million via debt by the end of this fiscal to buy vessels. The funds will be used for vessel acquisitions, reports suggested, adding banks are more willing to lend to shipping firms now compared to last year.