Mumbai: Private equity firm Blackstone Group has invested $65 million to get hold of 26% stake in Indian engineering company MTAR Technologies Pvt Ltd.

The Hyderabad-based MTAR makes critical components and products used for aerospace and defense applications. The funding will be a mix of primary and secondary equity.

Akhil Gupta, chairman of Blackstone Advisors India Pvt Ltd said, “We are very enthusiastic about this investment as we foresee a huge growth opportunity for MTAR both in domestic and global markets.”

In its ‘World Energy Outlook,’ the International Energy Agency (IEA) has projected that India will turn out to be the world’s third major net oil importer before 2025. The report also highlighted the following:

- India’s primary energy demand will be increased over two-folds by 2030. The demand will grow at an average of 3.6% annually because of strong economic growth. Electricity generation will be the answer for much of the increase.

Mumbai: According to RBI’s weekly supplement, the forex reserves came up by $4.068 billion to touch

Mumbai: The Indian currency has recovered its early losses as exporters sell the dollar, as the U.S.

Reliance Retail has unveiled their latest brand of retail stores, which has been named as ‘Reliance Footprint’.