The stock ended 4.61 per cent higher at Rs 98.75 on the BSE. In intra-day, it surged 9.11 per cent to Rs 103.
At the NSE, the scrip climbed 4.71 per cent 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.
"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.
Also Read
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.