Welspun Corp is in focus following a significant strategic divestment by its subsidiary. According to reports, Welspun Mauritius Holdings (WMHL) has divested a 4.5% equity stake in East Pipes Integrated Company for Industry (EPIC) in Kingdom of Saudi Arabia for SAR 283.46 million (approximately US$75.59 million). The transaction was executed on 9 June 2026 through a series of negotiated trades on the Tadawul Stock Exchange in the Kingdom of Saudi Arabia. Post-divestment, Welspun Pipes Inc., USA, a wholly owned subsidiary, will continue to hold a 22% equity stake in EPIC. The sale was conducted in favour of identified financial investors and represents a strategic exit from the Saudi pipes business.
Quality Power Electrical Equipments has executed a term sheet to acquire 100% equity share capital of Winwin Speciality Insulators, a Visakhapatnam-based manufacturer of high-voltage ceramic and polymeric insulators. The company has also announced the launch of Project GANGA following the signing of an MoU in March 2026 between the State Transformation Commission of the Government of Uttar Pradesh, OneOTT Intertainment (OIL), and HGS' broadband vertical. The project aims to connect more than 20 lakh homes with high-speed broadband across Uttar Pradesh over the next 2-3 years.
Emcure Pharmaceuticals witnessed a significant bulk deal transaction where Kotak Mahindra Mutual Fund purchased 36 lakh shares (1.89% stake) from BC Investments IV for ₹612 crore at ₹1,700 per share. As reported, BC Investments held a 3.87% stake in Emcure Pharmaceuticals as of March 2026. In a separate transaction, Ravi Agrawal Trust sold 34.5 lakh shares (2.76% stake) in Ajanta Pharma for ₹1,023.96 crore, with Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund serving as buyers. Ravi Agrawal Trust sold 34.5 lakh shares of Ajanta Pharma at ₹2,968 per share for ₹1,024 crore through a block deal on Tuesday, with domestic mutual funds emerging as buyers.
Dredging Corporation of India has appointed Jasmeet Singh Bindra as an Additional Director and Chairman, effective June 9. The company has also entered into a binding term sheet with Dixon Electroconnect and Gemtek Technology Co. to establish a joint venture, with Dixon holding a 60% stake and Gemtek holding the remaining 40%. The joint venture will focus on manufacturing and supply of optical transceivers, SFPs, and BOSA products, as well as other telecom products.
BlueStone Jewellery and Lifestyle saw significant stake sales worth a combined ₹243 crore from Ivycap Ventures Trust, Accel India, and 360 ONE Special Opportunities Fund. Nippon India Mutual Fund acquired 25 lakh shares (1.64% stake) for ₹130.51 crore at ₹522.05 per share. Additionally, Lyptus Punch-Card Fund acquired 13.62 lakh shares (3% stake) in Capital Small Finance Bank from Oman India Joint Investment Fund II for ₹36.78 crore at ₹270 per share. The Bombay High Court has also dismissed an interim application filed by Lilavati Kirtilal Mehta Medical Trust in a ₹1,000-crore defamation suit against HDFC Bank.
