Schneider shares hit upper circuit on parent co's AI deal

Shares of Schneider Electric India hit the upper circuit, rising 10% to ₹1,216.2, after its parent company announced an AI infrastructure partnership with Foxconn. Analysts noted the rally was largely sentiment-driven, as the India unit derives 20% of its revenue from the parent and could potentially benefit if India emerges as a low-cost manufacturing hub. However, the extent of any direct benefit remains unclear, and valuations are seen as already elevated.