Merrill Lynch Capital has raised its stake in Welspun Projects to 7.55 per cent. Prior to acquisition, Merrill Lynch Capital Markets Espana’s stake in the company was 3.80 per cent. Merrill Lynch has bought 15 lakh shares of the company through open market on April 30.
Welspun Projects (WPL), formerly known as MSK Projects (India) Ltd and part of the Welspun Group, is into engineering, procurement and construction (EPC) projects across sectors like roads, water and industrial structures.