Urja Global Shares Soar Following Deal with Tesla Power USA

-

Urja Global Shares
 

The recent surge in Urja Global shares is linked to a partnership with Tesla Power USA. However, investors may be surprised to learn that the deal does not involve the prominent electric vehicle manufacturer led by Elon Musk. Instead, the collaboration is with a lesser-known battery producer.

Misconceptions Surrounding the Partnership

When news broke of Urja Global's collaboration with Tesla Power USA, the Indian small-cap company's stock price skyrocketed, hitting upper circuit limits. Enthusiastic investors, believing the deal involved Elon Musk's Tesla, quickly purchased shares, sending the price up by 20% to ₹12.70 per share.

However, Tesla Power USA is not associated with Elon Musk's renowned electric vehicle company. The Delaware-based firm produces batteries for cars, inverters, and two-wheelers and has a presence in India through distribution channels and retail. Despite the confusion, Urja Global shares continued to hit upper-circuit limits, with investors still excited about the partnership.

Vijay Kedia's Reaction to Urja Global Shares

Prominent investor Vijay Kedia took to Twitter to express his amusement at the confusion surrounding Urja Global's partnership with Tesla Power USA. After conducting some research, Kedia discovered that the battery company was not affiliated with Elon Musk's Tesla. Nonetheless, he acknowledged the bull market's strength as the stock continued to perform well.

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.

-- Vijay Kedia (@VijayKedia1) June 12, 2023

 

Urja Global shares

Details of the Urja Global and Tesla Power USA Deal

Urja Global disclosed the partnership's details to Indian stock market exchanges, stating that the company had signed an agreement with Tesla Power India Private Limited. The deal's purpose is to manufacture and supply batteries under the Tesla Power USA brand.

According to the agreement, Urja Global will be the manufacturer and supplier partner for Tesla Power USA batteries in India. Furthermore, the Indian company will use Tesla Service Centers for promoting EV battery service requirements for their E-2 Wheeler batteries.

Urja Global Share Performance

Urja Global shares have experienced a significant boost following the partnership announcement, hitting the 20% upper circuit for two consecutive trading sessions. Over the past week, the small-cap stock has delivered approximately 55% return to shareholders, and its one-month performance has seen a 60% return, with share prices rising from ₹7.80 to ₹12.70.

However, it is worth noting that Urja Global's one-year performance is not as impressive, with the stock providing a near-zero return to shareholders due to a 0.50% decline in value.

Conclusion

The excitement surrounding Urja Global shares and their deal with Tesla Power USA highlights the importance of understanding the companies in which you invest. While the partnership does not involve Elon Musk's Tesla, the battery manufacturing collaboration may still offer growth potential for Urja Global. Despite the initial confusion, the stock has performed well in the short term, yet only time will tell if this partnership will yield long-term benefits for shareholders.

 


Comments

Post a Comment

Popular posts from this blog

Xiaomi FEMA Violations: ED Notices & ₹5,551 Crore Controversy

-
Image
The Enforcement Directorate (ED ) recently issued a notice to Xiaomi , the well-known technology business, and two of its senior executives. This blog post digs into the details behind the alleged Foreign Exchange Management Act (FEMA) infractions, putting light on the huge sum of 5,551 crores involved. Join us as we explore the complexities of this financial debate. The ED's Investigation: The ED, which is in charge of enforcing economic laws and combating financial crimes, has launched an inquiry on Xiaomi for alleged FEMA violations . The purpose of this investigation is to discover whether the corporation violated foreign investment regulations and engaged in any illicit financial activity. F EMA Violations Allegations: According to the ED, Xiaomi breached FEMA requirements by failing to obtain prior approval from the Reserve Bank of India (RBI) for its internal reorganization, which included foreign investments. The corporation is accused of illegally receiving foreign d
Read more

The Power of ChatGPT: Revolutionizing Conversational AI

-
Image
  In the ever-evolving landscape of artificial intelligence, ChatGPT has emerged as a groundbreaking technology that is revolutionizing conversational AI. With its advanced natural language processing capabilities, ChatGPT is able to engage in dynamic and interactive conversations, providing users with a seamless and human-like experience. In this article, we will explore the key features and benefits of ChatGPT, its potential applications in various industries, and the ethical considerations surrounding its use. Understanding ChatGPT ChatGPT is an AI language model developed by OpenAI , an organization focused on building safe and beneficial AI systems. It is built upon the foundation of GPT (Generative Pre-trained Transformer) , a state-of-the-art language model that has been trained on a vast amount of text data from the internet. This extensive training enables ChatGPT to generate coherent and contextually relevant responses to user queries. How ChatGPT Works At its core, ChatGPT
Read more

When Did Father's Day Originate: A Comprehensive History

-
Image
  Father's Day , a day dedicated to honoring fathers and celebrating parenthood, has grown into an important event recognized around the world. It is honored on the third Sunday of June to remind us of the crucial role that dads play in our lives. In this article, we will look at the history of Father's Day, including its beginnings, disputes, and current significance. The Birth of Father's Day Father's Day arose in the United States in the early twentieth century. Sonora Smart Dodd of Washington came up with the concept of designating a day to commemorate fathers. Sonora, who was raised by a widower and her five siblings, saw the importance of recognizing the achievements of male parents. Sonora decided to give a day to all male parents after hearing Anna Jarvis speak about the value of Mother's Day. She launched awareness efforts in local churches and businesses, gaining support for the concept of Father's Day. On June 19, 1910, the state of Washington observ
Read more