Shares of Urja Global Limited were on a roll and hit 20% upper circuit on Monday. The stock has been on an upward journey ever since it announced its agreement with Tesla Power India Private Limited for the purpose of manufacturing and supply of batteries under the TESLA POWER USA brand
Urja Global stock was on a roll after the investors assumed that this was Elon Musk's Tesla. However, Tesla Power USA has nothing to do with Tesla, which is owned by Elon Musk
"I am thrilled to read a news about a listed Indian company “tied up” with Tesla USA. I did some homework and found It's not Elon Musk's Tesla, it actually belongs to a Delhi based promoter's USA subsidiary in the name of Tesla. Stock is in upper circuit. Long live bull market," said ace investor Vijay Kedia in a Tweet
Tesla Power India Pvt. Ltd is based out of Gurugram with the global headquarters in Delaware, USA. It makes two-wheeler batteries, four-wheeler car batteries and inverter batteries. It has its presence in India through distribution channel partners and retail
Urja Global is engaged in the business of design, consultancy, integration, supply, installation, commissioning and maintenance of off-grid and grid connected Solar Power Plants and decentralised solar application and trading of solar products, lead acid batteries
Shares of Urja Global have delivered multibagger return to its long-term investors as they have zoomed over 200% return in the last 5 years
The purpose of the agreement with Tesla Power India Private Limited is to manufacture and supply various types of batteries under the TESLA POWER USA brand. Urja Global Limited will be the manufacturer and supplier partner of batteries in India
Shares of Urja Global were trading 20% higher at Rs 12.74 on June 12, 2023.The market cap of the firm rose to Rs 669.43 crore
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position