The six roads were acquired by Actis' Long Life Infrastructure Fund, which seeks to invest in stabilised operating assets within multiple infrastructure sectors and deliver a strong cash yield for investors. Actis has filed for the registration of the trust with the markets regulator Securities and Exchange Board of India (Sebi), said the sources cited above.

Welspun Enterprises acquired the stake from the existing shareholders for Rs 137.07 crore. MEPL will now become a subsidiary of Welspun Enterprises and enables the company's expansion into the promising water and tunnelling solutions segment in India.

The acquisition is in line with the strategy of Welspun Enterprises to grow the water infrastructure business segment and enable its entry into the tunnelling business, the company said.

Welspun Enterprises' June quarter net profit almost doubled to Rs 92.8 crore, while consolidated income was up 5 percent to Rs 750 crore

The acquisition is in line with the strategy of Welspun Enterprises to grow the water infrastructure business segment. This will enable its entry into the tunnelling business, which complements its existing water and road business.

Though Nifty Bank saw a new peak earlier than Nifty 50, the moves since then, had hardly evoked confidence or reflected a secular bull run that was widely expected.

Indian stock market benchmark Nifty is expected to reach the 21,000 mark within the next 6-9 months, according to a report by ICICI Direct. The firm said that the last four general elections resulted in the 50-stock index gaining a minimum of 11% in the electoral year, citing history as evidence.