Vedanta surges over 13% as company to set up iPhone manufacturing hub in Maharashtra

Shares of multinational mining company Vedanta NSE 0.00 % extended their rally to the fifth consecutive day and rose over 13 per cent in Wednesday’s trade after company chairman Anil Agarawal said in an interview with CNBC TV18 NSE -1.08 % that Vedanta will set up a hub to manufacture Apple iPhones and other television equipment in Maharashtra.

At 2.06 pm, the scrip was trading 11.40 per cent higher over the previous close of Rs 309.30. It touched the day’s high of Rs 314.80 on BSE. The stock has risen nearly 100 per cent in the last three years, while it has surged over 12 per cent in the last month.