Welspun Corp surges; Japan PE fund raises stake

Reuters Market Eye - Shares in Welspun Corp Ltd gain 6.7 percent after Nippon Investment and Finance Co raises stake in the company to nearly 2.1 percent from 1.55 percent earlier through open market transactions.

Nippon, a Japanese private equity unit of Daiwa Finance Co Ltd, bought 1.39 million shares of Welspun Corp at 56.19 rupees a piece in a block deal on Tuesday, according to BSE data.

(Reporting by Abhishek Vishnoi)