Adani Ent rallies further on Foxconn buzz, up over 9%

MUMBAI, Aug 5:  Shares of Adani Enterprises surged over 9 per cent, extending its rally for the second straight session, after Taiwan-based Foxconn, which makes iPhone, iPad and other Apple products, said it’s in talks with the Adani group to set up manufacturing factories in India.
The stock climbed 9.11 per cent to Rs 103 on BSE.
On NSE, it gained 9.1 per cent to Rs 103.05.
In the previous session too, the stock had rallied 11 per cent.
Foxconn is in talks with billionaire Gautam Adani’s group and other Indian firms to set up manufacturing facilities in India.
Foxconn Chairman and CEO Terry Gou, on his second visit to India in 45 days, said yesterday his company was “very keen to invest” in the country and is in talks to strike partnership with local companies.
“We are at the discussion stage only and have not signed any agreement which requires disclosure under Clause 36 of the Listing Agreement,” Adani Enterprises had said in a regulatory filing yesterday. (PTI)


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