Shares of Welspun Corp fell more than 6% on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal, with a promoter group entity and the company’s managing director and chief executive officer likely among the sellers.

The block deal was done at Rs 2,275.30 apiece, marking around a 3% discount to Welspun Corp’s previous closing price of Rs 2,345.50 apiece on NSE. The shares of the company dropped more than 6% after the block deal to Rs 2,203.70 apiece on Wednesday morning.

Welspun Investments and Commercials, part of the promoter group, was set to sell up to 60 lakh shares, while Vipul Mathur, managing director and CEO of Welspun Corp, was set to sell up to 3 lakh shares, according to deal terms seen by ET Markets.

The stake that changed hands in the block deal represents about 2.4% of Welspun Corp’s existing outstanding shares. The transaction was fully secondary, which means the company will not receive any proceeds from the sale. IIFL Capital Services is the sole broker and placement agent for the transaction.

Also read | Welspun Corp promoter group, CEO to sell up to Rs 1,417 crore stake via block deal

The block deal comes after a sharp run-up in Welspun Corp shares, which are up over 40% in just one month. The multibagger stock of 2026 has been one of the stronger performers in the industrial and pipe manufacturing space, helped by order visibility, energy infrastructure demand and investor interest in capital goods-linked themes. Promoter or management stake sales are closely watched closely by the market as they can affect near-term sentiment.

Welspun Corp share price

Welspun Corp shares have gained over 13% in a week and 180% in 2026 so far, delivering sharp returns for its shareholders. After hitting a 52-week low of Rs 710 apiece in February this year, the stock skyrocketed 243% in less than seven months to hit a 52-week high of Rs 2,434 apiece yesterday.In the longer term, Welspun Corp shares have delivered stellar returns of 156% over one year, 604% in three years and a whopping 1,805% in five years.

Also read | Multibagger stocks: Ather Energy, Hind Copper, MCX among stocks which surged up to 250% in one year

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Constantin Baack
Chief Executive Officer

Good morning, everyone, and thank you for joining us for MPC Container Ships’ Second Quarter Earnings Call. This is Constantin Baack speaking, and I’m joined today by my colleague and Co-CEO and CFO, Moritz Fuhrmann.

Before we begin, please note that today’s discussion includes forward-looking statements as well as indicative figures. Actual results may differ materially due to risks and uncertainties inherent in our business. I would like to open today’s presentation with a very short reflection. We are pleased to report another solid quarter, both financially and operationally. What stands out to us is the continued modernization and transformation of our fleet, together with the visibility we now have over our backlog and cash flows for the years ahead. This is not by chance, but by design, the result of a series of deliberate steps we have taken over recent quarters and years.

With a contract revenue backlog of $2.2 billion and coverage extending well into 2029 and beyond, we believe this visibility leaves us very well positioned for the future. Even as the broader market remains volatile and hard to predict, conditions in our segment have stayed firm.

With that backdrop, let me hand over to Moritz to walk us through the highlights of the quarter.

Moritz Fuhrmann
Co-CEO & CFO

Thank you, Constantin. Also good morning from my side. And let’s start with the agenda for today. First, our business update, the quarter’s operational highlights, the fleet transaction and our balance sheet position; second, the market update; and thirdly, we’ll close with our company outlook.

Wes Streeting made a visit to Devonport which will soon be home to Britain’s new anti-submarine warships

Plymouth naval base Devonport is “critical” to keeping the UK safe, the defence secretary has said. Wes Streeting made the comments on a visit to the dockyard where he saw facilities being built to support future submarines.

The base – the largest of its kind in Western Europe – is home to Royal Marines and UK Commando Forces and will also soon house Britain’s new Type 26 frigates. A total of eight of these anti-submarine warships are being built for the Royal Navy by BAE Systems and are expected to enter service from 2028.

“The work done here at Devonport is critical to keeping our country safe,” said Mr Streeting. “From our Commando Forces ready to deploy at a moment’s notice, to our Navy personnel and industry who maintain our submarines – Plymouth is a city where defence runs in the blood.

“As we bring the Type 26 fleet to Devonport in the coming years, we’re investing in this base and our forces, ensuring it will remain at the heart of our naval power for generations to come, and continuing to push the frontier of defence innovation.”

Devonport is the only facility in the UK responsible for the deep maintenance and defueling of the Royal Navy’s nuclear submarine fleet. The work involves keeping the fleet available and operational, while its defueling capability supports the decommissioning of older submarines at the end of their service life.

Luke Pollard, MP for Plymouth Sutton and Devonport, said: “This is a base with a proud history and an even brighter future. The Type 26 fleet and the continued investment in our submarine capability means Devonport will remain vital to the defence of this country, and vital to jobs and skills here in Plymouth.”

Mr Streeting’s visit comes a month after the government announced that Devonport would receive £7.1bn for upgrades over the next decade in a bid to improve the Royal Navy’s “readiness, availability and lethality”, while supporting thousands jobs in the West of England. The funding is part of a £26bn package of measures that also includes investment in HMNB Clyde and HMNB Portsmouth, including new submarine docks, waterfront facilities, berths and jetties.

The government’s Defence Investment Plan has pledged to transform the UK Commando Forces by funding new high-speed boats and the latest drone and autonomous technology.

In September, Plymouth was also named as one of five key defence growth areas in the UK Defence Industrial Strategy.

A snack company is recalling certain lots of donuts after an allergic reaction was reported, the U.S. Food and Drug Administration (FDA) said Monday.

The Better Bakehouse Snack Company said select lots of Donutful Chocolate Dipped Vanilla Cake Donuts were being recalled because the product may contain undeclared milk.

The manufacturer discovered the donuts were mislabeled and has taken “corrective measures,” the FDA said.

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“People who have an allergy or severe sensitivity to milk run the risk of serious or life-threatening allergic reaction if they consume this product,” warned the recall notice. The person who became ill has recovered, officials said.

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The recall is limited to certain lots made and distributed in March 2026: Donutful Chocolate Dipped Vanilla Cake Donuts, 10 Mini Donuts, packaged in a 7.05 oz carton containing five 1.41-ounce pouches, with UPC: 3 50041 39210 3.

The product was distributed to retailers nationwide and through Amazon.com, the FDA said.

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“Consumer safety is The Better Bakehouse Snack Company’s #1 priority and the company maintains rigorous food safety and quality control standards,” the company said in a statement released by the FDA. “The Better Bakehouse Snack Company is working with the contract manufacturer and retailers to remove any remaining affected product from the marketplace.”

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