Is Tesla Behind Tata Motors 20% Share Rise in Two Days?

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Is Tesla Behind Tata Motors 20% Share Rise in Two Days?
Credit: © Reuters.

Aditya Raghunath

Investing.com -- Tata Motors Ltd (NS: TAMO ) shares closed January 12 on Rs 237.25, up 7.52%. This is the second day in a row that its share price has jumped. On January 11, the stock rose 12.6% to close at Rs 223.2 from Rs 197.85. It has hit its highest closing price since January 2020.

Is a partnership with Tesla Inc (NASDAQ: TSLA ) behind the sudden rise in Tata Motors stock? The market is abuzz with news that Tata Motors might enter into a partnership with electric car-maker Tesla, wherein the US-based company will use Tata Motors’ facilities to manufacture and sell its vehicles. However, a Tata Motors spokesperson has denied the news.

This is the second instance in recent times where India has been affected by Tesla. Investing.com had written about the sudden spike in battery stocks on December 30, 2020, after Tesla said it will begin operations in India in 2021.

Exide Industries Ltd. (NS: EXID ), Panasonic Energy India Co Ltd (BO: PANB ), Eveready Industries India Ltd (NS: ERDY ), and Indo National Ltd (NS: INNL ) stocks had zoomed up on the Tesla news even though there is no visibility on what Tesla is going to do in India.

Tata Motors was trading at Rs 68 levels in March 2020 during the 40% fall in Indian markets. The stock has recovered over 246% since then on Tuesday’s close.

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  • ponnusami chockalingam @ponnusami chockalingam
    Long term trends( 200 DMA.200 WMA)  are in the downtrend and 200DMA is much below 200WMA, suggesting consolidation at the bottom.
    Like 5
  • Dhananjay V P @Dhananjay V P
    Should we expect a downfall in Tata Motors after this 2 day rally🤔
    Like 2
    • Jay Gadhavi @Jay Gadhavi
      sure wait and watch...👍🙂
      Like 1
    • Govind Singh @Govind Singh
      i hope it does so i can buy at low
      Like 1
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  • datta katkurwar @datta katkurwar
    The building of cards rising floor to floor everyday will crash any time
    Like 2
    • Deepanshu Pareek @Deepanshu Pareek
      nice line brother 😉
      Like 1
    • datta katkurwar @datta katkurwar
      thnx
      Like 0
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  • datta katkurwar @datta katkurwar
    The building of cards rising floor to floor everyday will crash any time
    Like 0
  • datta katkurwar @datta katkurwar
    The building of cards rising floor to floor everyday will crash any time
    Like 0
  • Dheeraj Barve @Dheeraj Barve
    Reason for fake rally.
    Like 1

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