Urja Global Shares Soar Following Deal with Tesla Power USA
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 st...