Tata Motors Shares up, highest of 52 weeks on Monday: Rumored that going to a partnership with Tesla
A Level up is seen in the shares of Tata Motors this Monday, 11 Jan 2021.
A wide increasement in the stocks of the company noticed. Shares are at their highest of the 52 weeks. On Monday the shares of Tata motors jumped to about 13%.
The increment in the shares is due to the good performance of their private and Jaguar Land Rover(JLR) businesses.
On the two primary stock exchange in India, the shares of Tata Motors is like-
On the National stock exchange (NSE) Tata Shares took a jump of 13% and On the Bombay stock exchange (BSE) an increment of 11.11% is seen.
Behind the increasement in the shares of Tata Motors, the rumor going on and spreading that Tesla has chosen Tata Motors and going to a partnership with Tata for their project by which they are to make an entry in the Indian market.
Before, It was heard that The electric car company “Tesla Inc.” is to launch its Tesla model-3 in India and is also planning to make an entry in the Indian market by Jan2021. This news was then confirmed by a tweet from co-founder and CEO of Tesla Inc. Elon Musk, who mentioned the same that “Tesla is preparing to make an entry in India in Jan2021.”
The news was somewhat also confirmed by Nitin Gadkari(transport and highway minister) who said that “Tesla is ready to start operation in the Indian market in Jan2021.”
Now, the rumor spreading that Tesla is going to enter the Indian market through the partnership with Tata Motors.
Though it’s just a rumor spreading, no confirming statement came from any side regarding the partnership.