Synergy stake rejig

Mumbai, Nov. 17: Global private equity player Blackstone today said it will divest 50 per cent of its stake in Synergy Property Development Services to the project management firm's promoter and chairman & managing director Sankey Prasad. After buying back the stake from Blackstone, the promoter and employees of the company will have a majority shareholding in Synergy, Blackstone said.

Citi report

New Delhi, Nov. 17: The country's current account deficit (CAD) is likely to be about 1 per cent of the GDP in this fiscal because of low crude prices and contained gold imports, a Citigroup report said. The CAD is likely to be about $20.6 billion (1 per cent of GDP) in 2015-16 against $28 billion (1.4 per cent of GDP) last year, it said.

Funds data

Mumbai, Nov. 17: Direct investments by Indian companies abroad fell 21 per cent to $2.28 billion in October this year compared with the year-ago period, according to RBI data. Indian companies had put in $2.88 billion in the form of outward foreign direct investment in October 2014.

Jugnoo move

Mumbai, Nov. 17: Jugnoo - a mobile aggregator for auto-rickshaws in the country - today said it has raised $3 million (about Rs 19.8 crore) in funding from Paytm and Freecharge co-founder Kunal Shah.