Adani Ent rises for 2nd day on Foxconn buzz; up nearly 5%.

Shares of Adani Enterprises rose for the second day gaining nearly 5 percent at close Wednesday after Taiwan-based Foxconn, which makes iPhone, iPad and other Apple products, said that it was in talks with the Adani group firm to set up manufacturing factories in India.

The stock ended 4.61 percent higher at Rs 98.75 on the BSE. In intra-day, it surged 9.11 percent to Rs 103.

At the NSE, the scrip climbed 4.71 percent to settle at Rs 98.90.

On the volume front, 40.38 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.

In the previous session, the stock had rallied 11 percent. The company's market valuation rose by Rs 1,534.62 crore to Rs 10,860.62 crore in two days.

"Shares of Adani Enterprises surged after market reports that flagship company of Adani group is in talks with Foxconn to form a JV," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.

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. 
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DLF shares surge over 6% on fund raising plans.

Stocks of realty major DLF advanced by over 6 percent Wednesday as the company seeks shareholders' approval to raise up to Rs 7,500 crore.

The stock ended the day with a gain of 5.95 percent at Rs 122 on the BSE. During the day, it surged 9.55 percent to Rs 126.15.

At the NSE, shares of the company ended 6.12 percent higher at Rs 122.10.

The company's market valuation rose by Rs 1,221.13 crore to Rs 21,744.13 crore.

In terms of volume, 21.37 lakh shares of the company changed hands at the BSE and over one crore shares were traded at NSE during the day.

"DLF rallied more than 9 percent intra-day after reports that the company is looking to raise Rs 7,500 crore and is seeking approval for the same from the company's shareholders," said an expert.

DLF is seeking shareholders' approval to create charge, lien or pledge on its over 50 percent shares in three subsidiaries, which holds rental commercial assets, for raising up to Rs 7,500 crore.

In a notice to the AGM, DLF has sought shareholders' nod through special resolution "to create charge, lien, pledge and other encumbrances of any nature/kind, exceeding 50 percent of the company's shareholding in the material subsidiaries -- DLF Cyber City Developers Ltd, Caraf Builders & Constructions Pvt Ltd and DLF Assets Pvt Ltd."

DLF holds 100 percent equity shareholding in these three subsidiaries, which are in the business of developing and leasing of office space, IT Park/SEZ and retail properties.

The creation of charge, lien and pledge could be in one or more tranches "to secure the amount raised by the company and/or such material subsidiaries... From the lenders provided that the amount borrowed and outstanding at any point of time shall not exceed Rs 7,500 crore", the notice added. 

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